Life is full of transitions, some we plan for, others we don’t. Whether it’s getting married, going through a divorce, welcoming a child, losing a loved one, or navigating a career change, major life events often bring significant emotional and financial shifts. We understand that these moments can be both joyful and challenging and may create uncertainty, especially when it comes to your money. But with a thoughtful, step-by-step approach, you can regain clarity and take control of your financial future. Here are some steps to help you through:
Before jumping into any financial decisions, take a moment to breathe and evaluate your new reality. Review your current income, expenses, assets, and liabilities. A clear understanding of where you stand is the first step toward building a new plan.
Tip: Use a budgeting tool or financial planning platform like RightCapital (which we offer our clients) to organize your information in one place.
A major transition often shifts your priorities. What was once your primary financial goal, like saving for a home, paying off debt, or planning for retirement, might need to be adjusted or replaced entirely.
Transitions can create unexpected expenses. If your emergency fund has taken a hit or wasn’t there to begin with, make rebuilding it a priority. Aim for three to six months of essential living expenses, more if you’re facing employment uncertainty or in retirement.
This is often overlooked but critically important. Ensure that the following are reviewed and updated to reflect your current situation:
Your risk tolerance, time horizon, and financial objectives may all shift after a major life change. Make sure your investment portfolio reflects your new goals. This might mean adjusting your asset allocation or increasing/decreasing contributions.
During times of transition, having an objective, experienced guide can be invaluable. At CPJ Financial, we specialize in helping clients navigate life’s complexities with clarity and confidence. As a fee-only, fiduciary firm, our only priority is you. We help you look at the big picture, plan for what’s next, and move forward with purpose.
Life Will Change. Your Plan Should Too.
Change is hard, but you don’t have to go it alone. Whether you're facing a life transition now or preparing for one in the future, CPJ Financial is here to support you with personalized planning, compassionate advice, and tools to help you thrive.
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