More than ever before, women are embracing the opportunity to navigate their finances and financial decisions. In fact, a recent report by McKinsey and Company states that by the year 2030, women will be the primary holder of wealth in the United States. As this shift continues, financial advisors are sharing key life transitions where women—either independently or with their significant other—could benefit from working alongside a financial professional:
Marriage – Start your marriage on a solid foundation. By working with an objective financial advisor, you can discuss combining incomes, budgeting, and new financial life goals. If you’re entering a second marriage where one or both of you have significant assets, a financial advisor can work with an attorney to help execute prenuptial agreements and estate documents that can be especially critical when blending families.
Divorce – Dividing assets can be a complicated process. A financial advisory team can provide valuable support from start to finish, helping you re-evaluate your income, expenses, and investments. An advisor can also assist you in establishing new personal goals, understanding personal values, and how best to optimize your resources to achieve this new vision.
Losing a loved one – The death of a family member or partner can rock your foundation in several ways. A financial advisor can help ease this transition by guiding you through various considerations such as changes in income, investment opportunities, tax implications, and more.
Empty nesting – After your children have spread their wings into young adulthood, you can refocus on you and your goals. A financial advisor can help you assess where you are on your journey to retirement or the next phase of your career.
Retirement – It’s never too early to be planning for your retirement. A financial advisor can help you envision what you want this phase of life to look like and create a realistic timeline to reach your goals. With the shift in income, an advisor can also provide guidance on other considerations such as health insurance options, Required Minimum Distributions (RMDs), and charitable giving strategies.
… and more.
Our lives are full of changes, challenges, opportunities, and decisions that can benefit from the guidance of a financial advisory team. Navigating life’s transitions is easier together—which is what inspired the podcast “Navigating Life Transitions” by JNBA Financial Advisors. Hosted by Minnesota media veteran Kim Insley, this conversation-based podcast brings together knowledgeable specialists, including financial advisors, tax professionals, and attorneys, to discuss different considerations when going through various chapters of life.
If you have questions as you navigate life transitions, or to learn more about how JNBA can help you with your financial life goals, visit JNBA’s website to schedule a complimentary, no-obligation call with their experienced, multigenerational team.
Please see important disclosure information at jnba.com/disclosure.
