Life Changing Event Planning

Having a financial plan in place during major life events will help you define realistic goals over a personalized timeline. Below are a few common scenerios our clients face and with our help, put their mind at ease. Although these are just examples, we have helped many clients through a broad range of other life changing events. After talking with us, feel free knowing we can help you find your way through some of life's toughest problems.

  • Loss of a Job

    "I am in my mid-40's and recently found out that the company I've worked for over the past 20 years is being bought out and my position is being terminated. As the primary breadwinner for my spouse and two young daughters, I am concerned about how I will be able to pay our bills and keep us afloat financially. In addition, I am concerned about insurance costs until I can find another job. I have a 401(k) and a little in savings, but I am afraid I will blow through it to make ends meet. I need to scale back my expenses, but I'm not even sure where to start."

    News like this can be unexpected and extremely unfortunate, but with a financial plan in place, it does not have to be devastating. Our financial planners are skilled in finding solutions to common concerns, such as:

    • How can I create a short-term budget or decrease my expenses so I don't spend all my savings?
    • Is unemployment an option for me? If so, how does it work, and how long does it take to set-up?
    • What is the best way to handle my 401(k) account? Should I cash it out?
    • How can I obtain health insurance until I find a new position?
  • Inheritance

    "My brother and I have been named primary beneficiaries on my late mother's estate, as well as her life insurance and IRA accounts. We will be given a sizable inheritance after the funeral expenses and I want to be sensible with the money we are given. I want to set aside enough for my family and I, but have concerns regarding the taxes and how to make it last."

    Losing a loved one is difficult, and being a beneficiary can at times seem overwhelming. Our clients often come to us with questions such as:

    • Is it best to invest my inheritance, or pay off debt now?
    • How will I be taxed?
    • Am I able to take a family vacation and still have enough to put aside for retirement?
    • How can I save for my children's college tuition?
  • Divorce/Separation

    "I am a stay at home mom in my early 50's and currently going through an unexpected but amicable divorce. My oldest son is away at college and I have a nine-year old at home. My attorney is helpful, but I have major concerns about making ends meet until I can re-enter the work force. I am not sure of what a fair division of assets would be, and whether I would qualify for any type of spousal or child support."

    In a situation like this, getting honest and thorough advice may have a significant impact on an individual's financial future. We can help talk to your attorney, and work through issues such as:

    • Is it possible to have support as an income if I am unemployed or if I go back to work?
    • What are my options for health insurance now that we are separated?
    • Will I be able to maintain the lifestyle I currently have and save for the future?
    • What is a fair division of assets for me?
  • Pension Planning

    "I am in my early sixties and am approaching retirement. My company has given me several options for receiving my pension and 401(k) monies. I am confused with all the paperwork and want to make sure I choose the best option for me. I want to retire in confidence, knowing I will have enough to last financially.

    Our financial planners can help you create a long-term plan to meet your retirement needs:

    • What should I do about health insurance?
    • Should I draw social security or wait?
    • What should I do about my pension and 401(k) monies?
    • Will I have enough money to last through my retirement?