By LouAnn Schulfer, AWMA®, AIF®
Accredited Wealth Management AdvisorSM
Accredited Investment Fiduciary®
We finalized a couple of impressive long-term care plans last week and started a financial planning engagement with a brand new client. I was pleased to help each client “check this off” their list, as it had been something they’d intended to get started on for quite some time: years, in fact.
There are turning points in our lives. Retirement may be on the horizon, children may have grown and are no longer financially dependent on us, savings and investments have grown to a sizeable amount, or we witness others experience something positive like selling a business or negative like unexpected illness or even death. These can be triggers or reminders that we need to assess what we have and plan for the future, because even if we don’t make a change, the circumstances around us inevitably will.
Some people identify goals while others address concerns. Each is equally valid and motivating. Retirement is a goal. Outliving your money, suffering large portfolio losses or long-term care illnesses are concerns. Formulate a plan with trials, what-if’s and stress tests to determine an approach. Periodically review whether adjustments need to be made. Confidence will replace anxiety when you feel properly prepared.
As Johann Wolfgang von Goethe said, “What is not started today is never finished tomorrow.” Be brave and take the first step; you’re likely to find that it was easier than you’d thought, that getting started was actually the hardest part.
LouAnn Schulfer is co-owner of Schulfer & Associates, LLC Wealth Management and can be reached at (715) 343-9600 or firstname.lastname@example.org. www.SchulferAndAssociates.com.
Securities and advisory services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.