June 1, 2023 | Todd Little, CFP®, AIF®
Although it’s generally recommended that people visit their doctor for an annual checkup, I must confess that I didn’t always heed that advice when I was younger. Thankfully, I’ve been blessed with relatively good health and so far, I have avoided any major repercussions. You can be certain, though, that at those times when something major was going on – if I was dealing with an illness or injury – I quickly made an appointment to go see my doctor.
Financially, we see a similar pattern for many people. While there is a significant benefit to seeing your financial advisor each year for an annual checkup, what often prompts people to meet with their advisor – or seek one out for the first time – are major life events. There are many events that may warrant a discussion with your financial advisor, but we will focus today on just a few of the more important ones: marriage; remarriage; divorce; birth or adoption; job change; and death of a spouse/significant other.
Bear in mind, this is not meant to be an exhaustive list, but just some key points to consider. As I get older, and hopefully wiser, I understand the importance of an annual physical. In the same way, the value of meeting with a financial advisor annually is that when one or more of these life events happen it is easier to get on the same page. In fact, a good financial advisor can help by forcing you to consider what you would do before some of these events happen.
If you or someone you know is experiencing one of these events, please feel free to forward this article. Even more, we’re here to help. We’d love to meet and help make sure a plan is in place to move forward from whatever circumstances you find yourself in. Contact us!