In today’s economy, this question is affecting many families. In the current times, many families are losing their homes, incomes and depleting their savings. With current employment on the decline, cutbacks at companies have added more stress to the individual’s daily routine than normal. Financial stress can be decreased and/or avoided with proper guidance. If you are worried that this may be a situation you could be in, preparing ahead of time is the best thing to do.

When an individual loses their job, finances can become a nightmare. Individuals are confused about where to draw money from and how to do it. Many times, an individual will live off their savings and then take full distributions from their retirement plans causing extra tax and penalty consequences, when they could have just rolled it to an IRA and taken monthly distributions until their situation changed, saving thousands of dollars in taxes. Proper planning could have prevented these errors.

A financial advisor who specializes in planning can help you look at your current situation, prepare for times when “survival mode” must kick in, and help you implement changes in your current expenses, debt/loan payoff’s, investment plans, etc.

If you or someone you know is worried about losing their job, or has, please call my office. During a free consultation, I can assess your financial situation and help you create a path of confidence during these uncertain times.

Archived Articles

• September  2009
• August  2009
• July  2009
• June  2009
• May  2009
• April  2009
• March  2009