What does a CDFA do?

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What does a CDFA do?

Jason Conger Financial Advisor

Answered By

Jennifer Merida

Financial Advisor at The Tranel Financial Group




What does a CDFA do?



Working with a Certified Divorce Financial Analyst ® (CDFA) is essential to avoid the most common financial mistakes made in a divorce. Divorce financial planning utilizes proven tools to help you work past emotions and frustrations to separate assets in a fair and equitable manner. It starts with uncovering your financial needs, challenges, and goals through our unique step-by-step process. Our mission is to bring clarity to the complex issues of your case. We guide and empower you with the knowledge and resources necessary to make smart decisions that set you up for a successful financial future during and long after your divorce is final.

A few things to list are:

  • Current budget and living expense analysis
  • Asset/ Debt Separation analysis
  • Future Planning
  • Financial Planning
  • Income Planning
  • Budget Planning
  • Housing analysis
  • Retirement Planning
  • Credit Report Review
  • Divorce Decree Review
  • Building a Timeline for post-divorce necessary tasks
  • Money/ Account transfers
  • Beneficiary changes
  • New account and credit building
  • Title transfer guidance, etc.
  • Organization for post-divorce communication
  • Creative options for settlement
  • Organize the process and streamline financial communication and organize the financial information for attorneys if needed.

Financial Considerations for Life After Divorce

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Financial Considerations for Life After Divorce

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A divorce can be an emotional journey and no one’s path will be the same. It can place you in a whole new financial situation and you will be faced with unique challenges during and after your separation. The future might feel unknown without the support of your spouse, but there are positive steps that can be taken to help secure a bright outlook for tomorrow. An Oppenheimer Financial Professional can help you navigate this challenging time by reassessing your personal and financial goals. Together, you can develop a secure financial future for you and your loved ones.

Taking the time to invest in yourself and your future will help establish a firm footing in your journey to a happy and secure lifestyle.

To begin the process of preparing for your next steps, here are some planning considerations:

Set Financial Goals
As you go through this process, establish financial and legacy goals that are important to you.

  • What lifestyle do you envision as you take the next steps in your new journey?
  • Are you planning on relocating or moving for a fresh start?
  • Are you considering starting a new career?
  • At what age are you considering retirement? Are there other income sources that you can draw upon?

Build a Team

Our Financial Professionals can work with your Accountant and Attorney to develop a plan that is custom-tailored to your specific goals.

Budget for Expenses
As you continue on this new journey, expenses will arise. Consider the different types:

  • Fixed are the everyday living expenses, such as rent, mortgage and car payments. These expenses reoccur in the same increments each month.
  • Variable are bills that arrive regularly but not always in the same amount, such as utilities and groceries.
  • Periodic can be car and home repairs, gifts to mark special occasions, vacations, etc.

Setting a budget that incorporates these expenses will help you start your path to a financial future that is within your control.

Create an Emergency Fund
In addition to the expenses that can arise and that have been budgeted for, have you established a savings/emergency fund? Anything can happen in life, and it is important to have a reserve to be financially prepared for any unforeseen events.

Health Care Costs
Health care costs can be the number one expense experienced in retirement. There are many ways you can prevent these cost from depleting your retirement savings.

  • If you are currently working, have you taken advantage of benefits from your employer-sponsored programs?
  • If you are close to or in retirement, do you have a complete understanding of Medicare and the Medigap programs that are available?
  • Have you thought about what age you might consider taking Social Security? Did you know that delaying these benefits each year to age 70 will increase your payments?
  • Will your emergency fund or savings that you have accumulated over the years be enough to cover any unforeseen medical costs?

These steps will ensure that your wishes and objectives regarding your health and legacy will be carried through.

Update Your Estate Plan
Estate plans created during your marriage should be revisited and estate planning documents should be reviewed and updated to reflect your current health and legacy objectives.

Establish a new will or trust
Update beneficiary designations on all pertinent documentation, including your bank accounts, brokerage accounts, and life insurance policies. Create powers of attorney with new directives. These steps will ensure that your wishes and objectives regarding your health and legacy will be carried through.

Protect Your Financial Future
Your loved ones depend on you, whether you are a caregiver or parent. Have you considered protecting them by investing in the following?

Life Insurance

Life insurance can fill a multitude of needs, including financial support for loved ones. It can provide you with confidence, knowing your heirs will be taken care of in the event of your death. It can also help fund educational costs, supplemental retirement income and much more.

Long-Term Care Insurance

One of the biggest risks to your retirement can be a long-term care (LTC) event. LTC insurance can protect your assets in the event you cannot care for yourself. It can cover care in a nursing home, assisted living facility, adult day care center, hospice care and even in-home care. It can provide you with the confidence that you or your loved ones can afford the help should the need arise.

Disability Insurance

Your income is the driving force behind all the plans you set into motion, such as purchasing a home, everyday living expenses, planning for your children’s education, vacations and saving for retirement. If you were to fall ill or become injured and unable to work, disability insurance can provide the support to maintain your current lifestyle, covering expenses and avoiding debt.

As your life changes, so will your insurance needs. If you currently have coverage in these areas it is important to review the policies you may own. This will ensure that you have the appropriate protections in place for you and your loved ones.

Quotation from Aenean Pretium: “Divorce can be difficult, but an Oppenheimer Financial Professional will guide you along the way, building a path that will bring confidence through the planning process for a secured financial future.”


Gary Domoracki

Gary Domoracki

Managing Director - Investments | Branch Manager

I strive to help educate all of my clients about the power and importance of investing, as I still do with my daughters. Making sure that our girls have the confidence to make educated financial decisions is a must in our household, because, all too often in the wealth management industry, women are overlooked and mistreated. One of my goals, as a financial advisor, is to facilitate change in the finance world to make it a space where women feel powerful, knowledgeable and confident when talking about money.

“A Plan for Change – An action guide for women who are divorced or widowed.” Brigthhouse Financial, 2020.
“How to Work with Female Spouses Through Divorce.” U.S. News & World Report, 2020.
“Women Don’t Consult with Financial Advisors When They Get Divorced. Here’s Why They Should.” Forbes, 2020.
“Financial Tips and Advice for Women in a Divorce.” Mass Mutual, 2020.

©2021 Oppenheimer & Co. Inc. Transacts Business on All Principal Exchanges and Member SIPC.

How do you get a mortgage without a regular salary?

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Ask an Expert – How do you get a mortgage without a regular salary?

Jason Conger Financial Advisor

Answered By

Marla Barch

Mortgage Lender



How do you get a mortgage without a regular salary?


Qualifying for a mortgage requires you to have a stable “income” that is likely to continue. However, there are lots of acceptable “income” types beyond a regular W-2 job, such as

  • Self-Employed Income
  • Child Support
  • Alimony
  • Social security
  • Disability Income
  • Rental income from Investment Properties
  • Retirement Disbursements
  • Trusts
  • Royalties
  • Adoption Subsidies
  • Student Stipends
  • and more!

Additional options include having a family member with stable income co-sign or using the “asset depletion” program, which means you have enough savings/investments to pay your mortgage and other bills with monthly withdrawals.

Since the requirements will vary based on everyone’s unique situation, I recommend scheduling a custom consultation to review your goals, budget and qualifications in more detail.