Leonie O’Connell, a financial adviser at Momentum Financial Planning. | Supplied
Momentum’s #SheOwnsHerSuccess annual workshop series kicks off this week with great speakers covering crucial topics for women on their journey to success.
This is the financial services provider’s sixth edition of the campaign which consists of a two-day workshop, on August 14 and 17.
The first day of the workshops, which will be conducted masterclass-style, will cover discussions around the real implications of divorce, challenges women face in pursuing healthy independence and an exciting masterclass from keynote speaker Susie Wolff, a professional racing driver and the managing director of the F1 Academy.
One of the speakers who will be providing an insightful masterclass is Leonie O’Connell, an experienced financial adviser at Momentum Financial Planning. She will be discussing divorce and what women who are either considering, going through or are in post-divorce phase need to consider in order to preserve their financial future.
While divorce is an emotional roller-coaster, it could also have significant financial consequences potentially affecting savings, retirement plans and overall financial stability.
“One of the most critical steps in navigating divorce is being aware of its financial implications. Divorce can lead to a substantial reduction in household income, increased living expenses and legal fees, all of which can significantly impact your savings and financial health,” said O’Connell. “The division of assets, including retirement funds and property, can further complicate financial stability.”
However, with awareness comes a plan.
O’Connell said: “Recognising these challenges early can help you take proactive steps to mitigate their impact.”
It is important for women to be equipped with the right information because according to the 2022 Marriages and Divorces report released earlier this year by Statistics South Africa, 54% of divorces proceedings were initiated by women, higher than the number reported in 2015 – 51%.
Understanding how one can be impacted not just emotionally and mentally but also financially in a divorce is important on a woman’s journey to success.
“Money is complicated, especially when it comes to the intertwining finances of a married couple. Seeking the advice of a credible and trustworthy financial adviser can help you navigate the complexities of divorce settlements, asset division and long-term financial strategies. And do it in a way that works for your life and relationship.” she said.
O’Connell will be in conversation with lawyer Sinal Govender who will also unpack the legal implications of divorce and how it could also give rise to unforeseen costs and financial obligations.
Sanera Maharaj, an industrial engineer who has been selected as one of “Mail and Guardian’s” 200 Young South Africans and a finalist for the prestigious Tech Women 2023 programme, is also a speaker at the workshop. She will tackle the issue of pursuing independence in a healthy manner.
While for some, independence is an important marker for success, it is also important to make sure that women are given the right tools and products to have healthy independence. This is instead of women carrying the burden of hyper-independence – an extreme form of self-reliance that could have an impact on their mental and physical well-being.
Attendees will also be treated to the musical stylings of songstress and amapiano artist Bassie.
It is not too late to register for a digi-seat – available on Momentum’s website.
The Star
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