Planning for the UnexpectedSubmitted by Bellwether Wealth on September 20th, 2017
If you’re like us at Bellwether Wealth, you like to plan for every situation when it comes to your finances to be sure that you can handle whatever comes your way. But what about the unexpected (and unpleasant) changes you can’t plan for, such as a divorce, or death of a spouse? These changes can turn a dual-income household to a single income one, and that often requires significant lifestyle adjustments. If something like this happens to you, we offer a few pieces of advice:
- Unexpected life changes can bring a flood of emotions. We recommend making sure you have a close family member or friend by your side when making financial changes.
- Assess your current financial situation versus your previous. What will you need to cut back on or focus more funds to, now that you’re a single income household?
- Make sure you have a plan in place for your bills so nothing goes forgotten, especially if you were not the one responsible for the bill paying.
- Gather all of your important documents, store them in a safe place and be sure to make electronic copies. Our Bellwether EMoney Portal is an excellent resource that will help store your documents safely. Contact our office if you’d like more information.
One of the first calls you should make if you find yourself in a situation like this is to your financial planner. Our team of certified planners can assess your situation and help you prepare for watever situation may come your way. contact our office at 402-476-8844 or email email@example.com.