24 Oct I’m divorced. How do I make sure my money is in the right place?

Q. I’m recently divorced and our assets have been split up. I have money in mutual funds and also cash from a home sale. How do I start from scratch to make sure the money is in the right place? I’m 55, no debt, I work and I don’t have any idea when I can retire.
— Starting over

A. Divorce is a life-changing decision.

We’re glad you’re taking stock to make sure you have a comprehensive plan for your future.

For your investments, you may want to consider working with a fee-only Registered Investment Advisor (RIA), said Victor Cannillo, founder of Baron Financial Group in Fair Lawn.

RIAs have a fiduciary duty to act in their clients’ best interests, he said.

“They would be able to help answer both your retirement and investment questions, with your specific goals and needs in mind,” Cannillo said.

He said an advisor can help you assess items such as setting up a new budget, establishing an emergency fund, and determining your short- and long-term cash needs. They can also offer clarity on what is a feasible timeline for your retirement, he said.

Additionally, they can provide guidance on your current investments and determine if they are aligned with your risk appetite, he said.

“As a newly single person you may need to re-evaluate your risk tolerance,” Cannillo said. “Risk tolerance should consider both your willingness and ability to take risk. Depending on your appetite for risk, the percentage allocation for different types of asset classes may differ.”

Email your questions to .

This story was originally published in October 2025.

NJMoneyHelp.com presents certain general financial planning principles and advice, but should never be viewed as a substitute for obtaining advice from a personal professional advisor who understands your unique individual circumstances.