Major Life Events
When milestones like retiring or paying for college are decades away, you may not feel the need to seek professional financial planning advice and instead, opt for a do-it-yourself approach. But that can all change when major life events arise that require urgent, make-or-break financial decisions.
Our Philosophy & Approach to Preparing Financially for Major Life Events
1. We prepare you to take action, not simply react
You’ll often hear us ask, “What’s the worst that can happen?” The answer to that question allows us to plan and prepare for the possible outcomes. It’s the starting line in your race to a more confident future.
2. We help you gain a new perspective on investing
Some advisors believe the biggest part of their job is selecting investments, but we see investments as tools in the service of our clients’ financial plans. In our opinion, securities are a means to an end, not an end unto themselves.
3. We value our relationship with you
We’ve never been interested in one and done. Our goal is to build lasting relationships grounded in trust and mutual respect and characterized by regular touch points.
Examples of Major Life Events That a Financial Professional Can Help You With:
A potential job loss, or being forced to retire
It’s no question that a job loss can pose a significant threat to your financial security. If your company is downsizing, you may have limited time to decide between accepting a buyout offer or staying on the job longer. We’ll work with you to evaluate the financial impact of each option, taking into consideration your retirement savings and health and life insurance benefits.
The death of a spouse or partner
Worrying about money while you’re grieving can be overwhelming to say the least, but you’ll unfortunately need to address your finances quickly, especially if there isn’t a plan already in place. We’ll help you consider potential income loss, potential lifestyle changes, and how your tax situation may shift without filing a joint return.
Retiring from work
Retirement requires a shift in your investment strategy, from growth to wealth preservation and income generation. We’ll help you determine the right time to adjust your focus, how much retirement income you can rely on, and strategies to avoid outliving your savings.
Receiving an inheritance
Coming into money is exciting but carries big responsibilities. Consulting a financial advisor can help you make the most of your inheritance by addressing whether to save and invest or pay off debt, as well as tax implications. You may also need to update your will or explore estate planning options.
Freedom First Retirement Design will be there wherever life takes you, helping you make informed financial decisions. If you’ve managed your finances independently, it may be hard to give up control. But as major life events occur, navigating complex decisions can be challenging. Let us help you reach your financial goals and secure the stability you deserve.
