This is for many of our clients who are widows and widowers, and new divorcees.
For some of them, Financial Planning and Retirement Planning are foreign, and the lingo associated might as well be Martian.
Here are just a few ideas to get you started in the right direction.
Let’s make sure we are taking care of our mental and emotional health during these transitions.
After my father’s death, my mother used to tell me that the days were ok, but the nights were very lonely. Make sure that you are getting the counseling and support you need. Circle with your friends and stay close.
Sit down, or Zoom, with your Financial Advisor and set up your Financial Goals.
Most probably, you don’t have any goals other than getting through the current situation. It’s hard to see years ahead when life is a bit cloudy. However, positive outcomes and retirement do await you if you plan properly.
Goals should include staying current on all bills, putting together a retirement plan, making sure you have considered your children’s education needs, and, don’t forget your own needs.
Think about what you want your retirement to look like.
Do you want to travel?
To which countries? By ship or by plane? Who will be your travel buddy? Active travel or passive travel? First-class or economy?
How about golf?
Cooking?
Grandchildren?
How much will all of this cost and can you reach these dreams?
Will you be spending your free time with your children and grandchildren? Are you thinking of giving them monetary gifts and paying for higher education for your grandchildren?
Are you thinking of moving closer to your family? Leaving California?
Is it time to look for a new job? Do you need assistance here?
Can you focus on your long-term planning, and on putting assets away monthly to prepare for retirement and health care costs?
It may be time for a new CPA or Attorney — one who can give you personal and terrific advice.
Are taxes and estate planning going to be issues for you? If so, let’s talk about mitigating taxes and pain.
What is the next step in creating a legacy for my family and my children? This is the place you go when you know that the present is taken care of and it’s time to focus on your financial future and the next generation.
There is never enough time to plan for every outcome, but with a great partnership with your Financial Advisor, dreams can become reality.
For more information, reach out to me anytime. I’m here to help.
Call or email me anytime.
All my best,
Elliot Kallen
925-314-8503
elliot@prosperityfinancialgroup.com
