![]() For example, you can begin saving for future college expenses with a 529 plan. You can, however, plan for some of those expenses. However, a promotion and significant pay raise can provide an ideal opportunity for you to not only increase saving for retirement, but also saving for your other goals.Ĭhildren. Children can make life exciting, fulfilling, and, of course, more expensive. Job promotions. We’ve all heard the adage “Pay yourself first” when you receive a small cost-of-living raise that may not have a major impact on your life. ![]() Your financial plan should include a review of your joint savings, insurance coverage, and investment preferences, such as risk tolerance. Sound planning can help you determine your financial goals, such as starting a family, purchasing a home, and planning for retirement. Marriage. The combining of households and finances can be complicated, especially for those who enter marriage with children or substantial assets. Here are some examples of different life events and how financial planning can help you be ready for them: As your life changes and progresses, your financial needs will also evolve.
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