Licensed financial advisors crunch numbers all day, so we know what it can be like – the normal routine, sun rise, sun set. It can often seem like life is just moving by at its own clip with not much really going on. But, as you probably know too, unexpected things can and will happen all of the time. And, when unexpected things happen, almost every time there’s a financial component to consider. When these things happen, then, it’s important that you have a firm handle on your finances, and the ways in which that unexpected event, good or bad, is going to have an effect on your financial situation.
Say, for example, you’ve had an unexpected death in the family, and have found yourself with a hefty inheritance on your doorstep. While the money may seem like a good thing at first, it’s like the saying goes: more money, more problems.
There’s estate taxes to consider, the effect on your own tax liabilities, and mountains of paperwork. With everything that’s going on at time like this, both emotionally and financially, it’s very easy to become overwhelmed. That’s why we recommend retaining the services of licensed financial advisors such as ourselves.
But, of course, unexpected surprises aren’t always bad. Maybe you’ve recently gotten a huge promotion at work? The raise in your salary is a great thing, no doubt, but have you stopped to consider how it might move you into a new tax bracket? Even more, you’ll want to make sure that you’re taking some of that new money and socking it away for a rainy day or your eventual retirement. The same holds true for other events like winning the lottery or hitting it big at the casino. So, no matter the event, make sure you’re receiving the advice of licensed financial advisors like us.