The only thing we can count on in life is change. How have you navigated life’s inevitable curveballs? Likely, with a tribe of trusted people. Life changes also may necessitate a review of your financial plan. Someone who should be part of your trusted tribe, a financial advisor can offer advice and make adjustments to your plan to keep you on track, no matter what life throws your way. Check in with your financial advisor when …
Saying ‘I Do’
It’s especially important if this is a second marriage, or you’re going into it with significant assets, to discuss next steps with your financial advisor, as there may be estate and tax implications. Proper titling and management of assets is also vital. Before tying the knot, share personal financial histories and disclose everything, including the not-so-good parts. Talking about money now will bring you closer to one another and make it easier to plan.
Having a Baby
According to a LendingTree analysis, the 18-year cost of raising a child grew to $303,418 after tax exemptions and credits in 2026. With planning, you can minimize the financial drain and maximize the cuddles. Work with your advisor to map out a savings strategy for managing these costs, including starting a college fund.
Buying a Home
Whether you’re looking to buy a condo or a sprawling estate, a home is likely the largest purchase you’ll ever make. Don’t let emotion overtake your buying or selling decisions, and be financially prepared before moving ahead. For example, save for a down payment. A 20 percent down payment avoids Private Mortgage Insurance (PMI) on a conventional loan.
Getting a Divorce
Though this may be one of the hardest times in life, checking in with your financial advisor may alleviate some stress. For example, an advisor can use cash flow modeling to show what your single life could look like financially. Involving a financial planner early on can help positively shape the divorce settlement.
Planning for Retirement
Put the boat or vacation on hold until you meet with an advisor. Because retirement comes with new considerations, like accounting for increased insurance and learning to access Social Security funds, you may need to develop a new budget. Getting a Raise
Congrats. Now, let’s get serious about making that new money work for you. A financial planner can help navigate your new financial situation — a raise may move you into a higher tax bracket — set goals, and take advantage of any new benefits or compensation options.
Starting a Business
Even if it’s a part-time gig and you’ll be staying at your 9-5 for the foreseeable future, run this new endeavor by your financial advisor. They’ll likely offer guidance on taxes and record keeping.
Selling Your Business (or Inheriting Money)
Remember that part-time gig you told your financial advisor about? Now you’ve built it into big business and are selling it. Or you received an inheritance. You may be tempted to blow the first few thousand on dreams of things you’ve always wanted to do if you had the money to do them.
Slow it down, let the adrenaline and excitement subside, and before you spend, consult with an advisor for recommendations on how to spend, invest, and save the money in the right buckets to make the best decisions for you and your family.
Figuring Out Social Security
Social Security is one piece of your retirement plan, but it’s a powerful piece. Choosing a certified financial planner often means your advisor will be better versed in figuring out how to work payments into your long-term financial plan. You may be eligible to collect Social Security as early as 62 but waiting until age 70 may yield greater benefits.
Dealing with a Serious Illness or Disability
Managing an illness can consume most, if not all, of your time. Let others help where and when they can, from everyday tasks like grocery shopping to finances. An advisor can help lighten the load by reviewing health and disability insurance policies to ensure adequate coverage and helping you establish a budget, cut costs, and prioritize expenses.
Change is inevitable. Financial uncertainty doesn’t have to be. When life takes an unexpected turn, a check-in with your financial advisor can help you adjust your plan, avoid costly missteps, and keep moving toward the life you want. After all, your trusted tribe is there for a reason.
Lindsey D. Rhea, CFP, is owner and wealth strategist at Alia Wealth Partners, connect@aliawealth.com.
