Financial Transitions Planning

We've heard the old adage that the only thing constant in life is change. All of us will most likely experience a major Life Transition Event (LTE) more than once in our lives, whether it be a marriage, a financial condition, a career or even a life, each carrying the potential of forever redirecting the path we are on. What's more, none of these LTEs are, in themselves, permanent and can set the stage for even more change.

Regardless of the types of LTEs you have experienced in your own life, they all involve a "Passage": the transition from what was to what will be. How you handle your particular Passage, and where you land afterwards, can either be financially and emotionally secure or fraught with obstacles, anxiety and even chronic physical problems in addition to financial ones.

More often than not, when life changes money changes, and when money changes life changes. When sudden financial changes occur in your life due to death, divorce, retirement, the sale of a business, or even winning the lottery, it can be challenging. LTEs involving significantly higher amounts of money than what you are used to can be challenging for even the most well-educated, sophisticated person.

I help Clients blend their personal goals, beliefs and dreams with their new financial position, including handling new responsibilities and decisions, and the emotions associated with them.

While everyone wants to avoid uncertainty, oftentimes people jump at any quick fix to avoid feeling uncomfortable. However, overly emotional or hasty financial decisions can lead to undesirable results. In addition, decisions during times of transition can also be influenced by stress. Not being able to think as clearly as we usually do can actually lead to missing opportunities that may come with taking the time to fully experience any sudden changes in our life and finances.

Change Management

Change management is not something we’re taught in school. Even a seemingly positive event such as a financial windfall can end badly. The common myths about money leading to happiness, older or more educated people making better decisions, or men managing money better than women, are just that -- myths. A sudden increase in money can lead to as many problems as it can solve, and a sudden decrease in money does not necessarily spell disaster.

While we can’t control all of life’s events, we can attempt to control how we respond to them. The long-term impact of a Sudden Money Event (SME) -- whether it was planned for or unexpected, celebrated or regretted -- ultimately comes down to your willingness to sit with that uncertainty as well as your patience moving through your transition in a meaningful way. Change can be a gift when space is created to pay attention and reflect on your sense of self and purpose.

I provide a specific discipline for managing the qualitative, emotional and personal side of dealing with sudden changes. By combining the technical and human side of finance, my goal is to help you avoid costly and/or irrevocable mistakes and account for the unseen parts of any transition.

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