I don't know anything about stocks, Cd's and what nots..
When i am finally divorced i'm going to put every dime into a very small new home.. Because mortgage payments will always be out of my reach i don't want to worry about one. Very small because i have to think about the price of utility bills and property tax.
For me that is the best plan i can come up with so far as being able to survive on down the road.

I'm completely hopeless at this kind of stuff myself, so I would recommend asking around for recommendations for good financial advisors, and then interview a couple and take it from there. I do know that with financial advisors you need to ask a lot of questions to see what kind of commissions they might be getting for steering you in any particular direction, and that when you're looking at mutual funds, you need to look not only at annual rate of return but also annual fees and charges levied by fund managers. Aslo, it couldn't hurt to buy a couple of the money magazines like Forbes and Bloombergs -- I did that last year and much of the content was accessible and interesting. Being a major procrastinator, however, I still haven't got beyond reading about investments instead of getting on with making some actual decisions.

I don't know much, but I know enough to know that you should not leave a substantial amount of money sitting in a checking account for even a day! Drop it into a short term CD for starters, and go from there - your bank can help you with this. Hope you find some good professional help to assist you - it's a financial journey too, huh?!

Ask your attorney to recommend reputable financial planners in your area. They can best advise you.

You need a financial planner. One who only advises and doesn't try to sell you on a plan where he works. Do you realize what banks are paying for interest on savings and cds? It's hardly worth putting money away. You might as well dig a hole in the ground and bury it in a coffee can.

You might find an online CD that might be paying more than .15%. I Have a Smarty Pig account online that is paying .70% and check out ally or HSBC. The online banks are paying more interest than the local banks. They are FDIC insured.

I have a financial advisor and wouldn't be without one.

Thanks Ladies! I will check on one this week. BTW I made a typo. My money is not in a checking account. It would be scary:)

I have been investing in the stock market for about 12 years. I personally feel that there's still too much volatility to go down that path. Certain countries in Europe could still default, USA is in much debt and China is slowing.

If it was me, I would try and buy a home - a small, cheap one perhaps?

@ lucy wattle...You are so right. I'm stuck in the stock market and have dealt with our 401k's for 30 years. I'm in a holding pattern; make a little and lose it the next day. I will live on whatever is left. The penalties for withdrawing is too much. But no more money is going into my acct. It's in online savings and at least making a little money.

Eegads what a volatile topic this could be! The last few years, the stock market has been like "put $5.00 in and get $2.50 back -- if that!"

Best bet is to consult with a financial planner! There are also specialty folks now who are "Divorce Financial Planners" and from what I understand, they are very well versed in how to spread your settlement out over a number of different investments that you mention. The hope is always maximum growth, but their focus is also on steady and secure.

I just had my year-end meeting with my financial advisor and upon his recommendation, I tweaked a few things. So far, the most fruitful investment I have made (and this goes back to 2003) was in U.S. Treasury "I" Bonds. I bought five of them at face value ($5,000 each). They only GO UP in value over the 30-year maximum life, yet they can be cashed in at any time. Unfortunately, I think the government realized that they were "too good a deal" and I'm not sure they offer them anymore.

mbstone:
Home ownership COULD BE a good thing for you, despite your fears. A financial planner can help you with this. When you own your home, you get a lot of nice tax write-offs which would lower your tax profile (read: less income taxes). I could never see the point of renting -- all that money you just give to someone else each month -- but I know there are times when it is most practical to rent.

Again, talk to at least one certified financial planner. Most banks have one on staff (around here, they are called Consierge Services) and remember you are not obligated to deal with that particular bank or buy or use any of their services. Just get as much information as you need and then decide.

Dave Ramsey endorses local financial planners. He says that they are trained by him to work with people without trying to sell them anything. You could check out his website (www.DaveRamsey.com) for people in your area. There are some free worksheets on the website.

Good Luck!