When Life Takes a Detour, How Do You Adjust Your Financial Plans?
John Lennon once said: “Life is what happens while you’re busy making other plans.”
A financial plan is dynamic, adjusting and flexing with you as you experience life's inevitable ups and downs. It might be tempting to derail your finances when you experience a big shift - but with a little help, you can still maintain stability!
Life Events Which Necessitate a Financial Plan Review
Ideally, you have already spoken to someone about your financial plan. (If you haven’t, let’s chat!) That way, when life forces you to pivot, all you have to do is check in with your financial professional.
Examples of life pivots include:
Marriage
Overwhelming debt accumulation
Death of a loved one
Birth of a child/grandchild
Disability
No matter the chance you’re experiencing, together, we can help you adjust your plan to align with your life’s circumstances. By mapping out the changes, examining the financial impacts, and readjusting both goals and methods, we can help you stay on track for your goals.
Learn to be Flexible
Flexibility might be the best characteristic to bring into life-changing events. Your ability to be open-minded and flexible will make those unavoidable changes go a lot more smoothly. While you can’t control the change, you can control your reaction to it.
After all, you can't ignore it when you’re late for school drop-off and run into a road detour! All you can do is take a deep breath and be flexible to the unexpected reroute.
Have You Already Experienced a Detour?
Whether you have a brand-new financial plan or you’ve had a rock-solid plan for decades, there is always a risk of change. Detours to our lives will happen, so the best way to react is to call our office for advice.
