Everyone experiences major life changes. Some are planned, others are a surprise, but no matter what happens and when, these large shifts can absolutely alter your financial present and future. Financial planning with a dedicated financial advisor ensures that you are ready to handle change as it comes your way and still maintain financial security.
Graduation and Job Changes
Financial independence after graduation is exciting and terrifying. Young professionals or people starting a new career may not think they have the resources to afford professional financial planning advice, but getting this kind of support is one of the smartest things you can do to manage your money wisely.
From savings guidance to setting long-term goals, and from understanding employee benefits to making investments, most people just want to feel like they have a solid foundation. They want money in the bank and everything in place for emergencies and retirement.
Marriage
Whether you’re getting married, moving in together, or simply setting up a life with another person that involves money and family, merging finances is inevitable. A financial planner helps you establish what’s yours and what’s theirs, so you can make the best money decisions together and separately. You can plan for the present and future, save for unexpected occurrences like illness or unemployment, and budget for the life you want to have.
Family
When it comes to growing your family, there will be many years of financial obligations to consider, from education to medical care and everything in between. You can successfully manage the financial demands of every addition to the family with a carefully plotted plan that considers everything a child needs from birth to young adulthood, and even beyond.
Divorce
Should your union end in divorce or the need to split business dealings, preparing for the worst – but hopefully never having to address it – is one of the wisest moves you can make with your financial advisor to protect your investments. You may need to support two households or begin a new household after never running your own financial channel. Knowing you have someone to turn to who will help you manage your finances is invaluable at this stage of life.
Retirement
You know when you want to retire, but will your finances allow it? Savvy financial planning factors in the most important details so you can optimize growth, maximize tax efficiency, evaluate assets and reduce risk, and plan your legacy. Strategic organization of assets, growth, return on investments, and consistent reviews of your asset allocation and funds are essential. These steps will help ensure you choose the safest options for your finances as you get closer to retirement.
Smart Financial Planning for Life
So many phases of life are wrapped up within each other. You can’t marry without considering divorce or retirement or the death of a loved one. You can’t have a family without thinking about affording children, paying for education, and helping the ones you love get set up for their own future.
Improve your financial literacy, get guidance to make the best financial decisions for yourself and your family, and prepare for all the big and little changes in life with help from an experienced financial advisor at Hollander Lone Maxbauer in Southfield, MI. Contact us to schedule a consultation.
