I recently turned 50. It may not be as big a year as 60 for financial planning, but like all milestone birthdays, it does make you stop and think about the life that got you here, and the life ahead.
What, if any, changes do you want to make? What do you want to build upon? What can you do without? What needs to change if you want to better achieve your current and long-term goals?
tap here to see other videos from our team.
In the planning world we also talk about major life events as a time to create or update a financial plan. These events typically would include retirement, unemployment, marriage, divorce, significant inheritance, a large and unexpected financial expense, serious illness or a death in the family.
Where does a pandemic fit into all of this? While it is possible that this strange time in our world may also coincide with one of those major life events, it seems like COVID-19 is bringing its own life reflection to a large percentage of people. I call it COVIDflecting. This is the adjusting of goals, values and plans based on what we are experiencing today.