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Jun 17, 2008 10:51 am US/Pacific

Money Tips For Widows

QUESTION: What are some good financial tips for women who are suddenly widowed and whose husbands managed the funds?

ANSWER: I would suggest you do nothing with your finances for at least six to nine months after you have been widowed.  Making  big financial decisions soon after the loss of a spouse is not recommended, as you will have an assortment of emotional issues you are trying to work through, and emotional issues can sometimes cloud important financial decisions.

Once this time has passed, I would then sit down with a good Certified Financial Planner and get a sense of your overall financial situation.
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Money Matters is provided by:

David Schauer, CFA, MSFA, CFP®
Financial Planner
Hanson McClain
E-mail questions to moneymatters@kovr.com


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