Suddenly Single, With Wealth – Is There a Problem? Part Two

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You can read part one of this series here.

Being left solely responsible for wealth through divorce or widowhood later in life comes with its own set of responsibilities, opportunities, and challenges. As with so many financial life events, it is often the emotional challenges that are the hardest.

  1. Loneliness

Perhaps one of the most debilitating consequences is loneliness. Anyone who is newly divorced or widowed experiences the pain of navigating life alone after being part of a couple, and the addition of sudden money can bring its own form of isolation. Money can separate you even from people you care about. Family members or friends may resent your financial status or expect financial help. You may feel obligated to give to them out of guilt or shame. It may feel impossible to fully confide in even close friends who may now have less wealth than you do.

Finding new friends or, eventually, potential romantic partners also has its risks. Some may feel intimidated by your financial situation and others may look to exploit it.

  1. Financial exploitation

Wealthy single women can be prime targets for both outright scammers and individuals seeking to take advantage of their financial resources. The challenge is to be vigilant in protecting yourself without isolating yourself out of fear. These suggestions may be helpful: