For Our Clients
Planning for Life’s Milestones
Life presents a variety of professional and personal milestones that can result in financial challenges and opportunities.
Our advisors are there with you every step of the way, to move smoothly through life’s transitions whether you are a new saver or close to retirement.
We will be there with you to adjust the plan as life continues to evolve.
Congratulations! As you prepare to head down the aisle, remember that starting a new life with your spouse involves many financial considerations:
- Designating who will handle various financial aspects
- Creating a budget
- Building an emergency fund of three- to six-months of living expenses
- Starting or continuing to save for retirement by using any combination of products that may
- include company-sponsored retirement plans, IRAs, Roth IRAs, investment accounts
- Reviewing insurance needs and coverage, including auto and home, health, disability, life and umbrella
- Reviewing beneficiary designations on qualified plans, life insurance policies, IRAs and annuities
- Ensuring assets are titled properly, particularly if changing your name
- Reviewing income taxes with a tax professional to optimize filing status for tax savings
- Reviewing or implementing your estate plan with an attorney to meet legacy goals
Benjamin F. Edwards & Co. does not offer auto & home insurance, health insurance, or umbrella policies.
New Career or Job Change
Beginning your career or changing jobs can be both exciting and overwhelming. While you are learning new job responsibilities, you’re faced with some financial decisions. Your financial advisor can assist you with a comprehensive review of your investments and advise you on strategies to develop a disciplined savings approach.
The birth or adoption of a new child is an exciting time, but it also brings new responsibilities for parents, both as caregivers and providers. Planning ahead can help:
- Employer benefits related to family leave and/or adoption, if applicable
- Revise your budget to include new expenses such as child care or diapers
- Review health insurance options Review life and disability insurance coverage
- Consider a tax-advantaged 529 college savings plan or Coverdell education savings account
- Review your will and estate planning documents, ensuring that you designate a legal guardian for your child and update the titling of assets
The keys to saving for retirement are starting early and saving regularly. Retirement savings vehicles can take many forms, including tax-deferred, tax-free and taxable accounts.
As you approach retirement (approximately five years before your target retirement date) you should review your financial snapshot on an annual basis at minimum to make sure you are on track.
Your financial advisor can help you create a retirement plans and help evaluate if you need to adjust your savings, goals or target retirement date.
Controlling Your Legacy
Some think “estate planning” is only for the wealthy. However, regardless of wealth, you likely have an idea of how you would like your assets distributed upon your death or who you prefer to make decisions for you in the event of incapacity. This desire for control is the true purpose for estate planning.
Your financial advisor can help you get started with a plan. If you already have something in place, your financial advisor, in consultation with our in-house expertise and your tax and legal professionals, can review your plan or can consult with you on potential updates to address your everchanging financial and estate planning needs. This collaborative approach helps assure your legacy goals are met.