Whether it's anticipated or not, a major life transition can be disruptive. You are inevitably facing a mix of emotions while making potentially new and critical financial decisions. But what is going to be your foundation for these decisions? Will you base them on emotions, goals that align with your values, or a crafted financial plan.
2020 has made us revisit many financial topics in our lives. Have you lost part or all of your earned income, and now how do you prioritize your spending? Have you lost insurance benefits? Have you thought about your estate plan and medical directives? If you owned a business, "what now" how to do you keep the door open and cover your expenses.
More than 30 percent of the thousands of participants in a Charles Schwab assessment said they don't have a written financial plan because they think it's too complicated or don’t have enough time to work on one. More than 20 percent of people polled by the National Financial Educators Council said they don't have anyone to turn to for trusted financial guidance.
A comprehensive financial plan covers the areas of managing credit and loans, budgeting, insurance, investment, retirement, and estate planning. When these areas are well covered in a sound financial plan, we have greater clarity on how each financial decision affects another. We can adapt more easily to life changes while keeping our life goals intact.
Did you know the financial advisors at the Affinity Plus Investment Center can be your "transition specialist" helping you adjust to your new reality by gathering information, determining your needs, and talking through the various financial scenarios before implementing financial planning and investment management strategies.
Affinity Plus Investment Center Financial Professionals are registered representatives of CUNA Brokerage Services, Inc. Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No financial institution guarantee. Not a deposit of any financial institution. CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America.
