The family dynamic is constantly evolving. With the joys of starting a new family, also comes challenges. As families change so do financial needs and goals. In the younger years, families need to consider a few evolving goals; their education expenses such as student loans, and planning for their future retirement. As children are brought into the family dynamic, factors must be considered for their future as well. This can include saving for college such as a 529 College Savings Plan
In the unfortunate event that a couple decides to separate and or divorce, there may be financial obligations as well as questions that need to be addressed. As you chart your own path, you may need to assess new financial goals and future monetary needs. Questions arise round Social Security and ex-spouse benefits, retirement assets, etc. Retirement may look a bit different now at this stage in your life, as well as savings and investments.
As we grow older, and become “empty nesters”, once again, our financial needs and objectives will change. How money and accounts will be managed, and by whom, will come into question. We can help families plan so as they enter this stage in their life, make it as easy of a transition as possible. Once a partner or spouse dies, leaving their significant other a widow, the financial picture will once again change. We can help individuals prepare for this time and in the event, it happens, help guide and manage clients through it.