In our industry there is one time that our clients should always be ready to talk. When life is changing then it’s time for financial plans to change as well.
Some of these changes are obvious. The passage of time gives lots of reasons for a financial review. Big events such as getting married or becoming a parent or homeowner for the first time are clear reasons to review your coverage and should prompt a discussion with ease.
Less dramatic changes, however, also warrant looking at your plans and making sure that they are still working for you. Having a second child might not necessarily prompt a full financial review, even though all the costs of child rearing and education have essentially doubled.
Another point in our lives that warrants a financial review is change in employment. Any change really should prompt a discussion. With a new position comes new salaries, new challenges, potentially new costs, and even new risks; without a professional staying in front of clients’ ever changing needs opportunities could be missed to maximize benefits and minimize costs.
As one of our own is moving on to new horizons I want to remind all of our readers that change can be exciting and scary, but it should be a reminder to be conscious of the decisions we’ve put on autopilot and to make sure that our needs are still being met.