YourStyle Financial

Planning for the Unplanned

June 14, 2018

What comes to mind when you hear the term “financial planning”? It’s a kind of fuzzy term that most people associate with retirement or other such occurrences in the future. Thinking and planning for the long term makes sense, but what about now – today, tomorrow, or the day after? Here’s a little scenario to get you thinking about today. You live in a nice home with your spouse and family. You’re both gainfully employed and life is going well. Since you’re feeling comfortable, you upgrade that old junker car to one that’s more appropriate to your current lifestyle. You deserve it! Then you and your spouse look around your house and compare it to your friend’s who just bought a new house in a new development. Hmmm, you wonder, what would your house look like with a new kitchen? So you start the process of meeting with the designer, picking out appliances, cupboards, countertops and lighting. All the stressfully exciting things that come with a home renovation. The work is done, the kitchen looks amazing and you sigh happily. Ahhhhh, life is good. You wake up the next day, stroll into your beautiful new kitchen, sip your coffee and head off to work in your new vehicle feeling content. Another day, another dollar. As you’re logging in for the day, your boss asks to see you in her office. “Be right there” you say. But, when you sit down across from your boss, you realize she’s not smiling and there is a letter flipped over in front of her. You have become a casualty of your firm’s downsizing. Suddenly, life is not so good. This is the moment where financial planning can ensure financial security. There are a number of options available to create a nest egg, not only for retirement but for all of life’s uncertainties. If this situation hits a little too close to home, it might be time to speak with a financial professional to ensure your bottom line is covered —  no matter what life throws at you.

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