PREPARING FOR LIFE TRANSITIONS
Life Transitions are major events that can and will change the course of your life.
Managing these transition events can be challenging and disruptive. No matter the triggering event, the pressure or trauma that occurs can hinder a person from making sound financial decisions. Working with us can help give you clarity. We can provide perspective, empathy, expertise and guidance, helping you understand your options to make smart money decisions.
Focused WealthCare can provide you with a road map -Your financial Plan- that helps you through these changing times and mapping your progress to your long-term financial goals.
Consider reaching out to us before or after any of these key transition points.
STARTING A CAREER
Professionals joining or Buying a Practice and Individuals starting new businesses will really benefit from a conversation with a professional. Yes, the first concern is “I have no money, just a lot of debt”. We know how to make Smart Money decisions to get your plan started. We coordinate with your accountant to bring a second perspective and help you get the right start on your life goals
STARTING A FAMILY
This is an exciting time in your life and you probably have a few financial questions popping up like: Do I need life insurance? What’s the best way to save for college? Can I afford college? While you’re figuring out how to manage the day to day needs of your child, we’ll make sure you start thinking about the long-term.
A DIVORCE OR DEATH OF A SPOUSE
A divorce or death of a spouse can be challenging enough on its own, and financial worries about your future could make a difficult situation even more so. While you focus on healing emotionally, your financial advisor can help take the pressure off your financial concerns.
RE-MARRIAGE - Is Common Law Different?
Entering a new relationship can be filled with excitement but for those who have built up assets, what are the risks of economic loss? It is smart to consult a Financial Advisor before any financial commitments are made. Divorced people have some familiarity with the Family Law Reform Act, but Common-Law relationships are not covered by the same rules
RETIREMENT
As you approach or start your retirement, you want to feel certain about your financial foundation as you switch from collecting a paycheck to living off your savings. That transition means figuring out what your cash inflow and outflow will likely be so that you don’t end up overspending and risk outliving your retirement funds.
CHANGES IN CARING FOR FAMILY MEMBERS
You may be supporting your elderly parents or your adult children, or you may even find yourself supporting both causing financial stress. We can work with you to build a comprehensive financial plan that accounts for issues such as budgeting and cash flow planning based on your new costs, or managing evolving health care costs, both yours and your parents’.
INHERITANCE
Receiving an inheritance or another financial windfall can significantly change your financial position. You may find that you need a plan to manage the money so that you both preserve it and leverage it to reach your goals. You may even find that your goals have changed. We can help you clarify these goals and provide financial advice.
PASSING TO THE NEXT GENERATION
Whether you plan on leaving assets to your kids, grandkids or favorite nonprofit organization, the biggest gift you can give your loved ones is to think through your estate plan in advance. We can provide guidance and advice so your family can focus on grieving and making sure your wishes are executed upon.