Get Ready! Money Pros Guide – Week 4️⃣ : Plan for Upcoming Life Events

Week #4 Action Item: Plan for Upcoming Life Events

👉  Life events can impact different areas of our financial life.

👉  Every life event will impact our goals and how we can achieve them. Following the Get Ready Method helps you know what to update and what to consider.

👉  Review major life events and what to focus on at these life events. Here are five major events:

  • Financial independence and retirement: Design financial independence paycheck. Obtain individual health insurance or Medicare. Terminate disability insurance. Modify or terminate life insurance. Plan for longevity.
  • Marriage and domestic partnership: Family meeting. Decide on separate or shared finances, tax filing status, insurance (set separate and joint goals). Estate planning update. Document update if name change. Update beneficiaries. Property titles. Update investment strategy.
  • Parenthood (birth, adoption, foster): Life insurance. College savings account. Estate planning update. Update beneficiaries. Update health insurance. Plan for child-related costs. Research parental leave. Apply for a social security number (so you can claim your new dependent).
  • Starting a job: Negotiate salary—get paid what you’re worth (research gender pay gap). Maximize employee benefit usage. Participate in 401(k) and make sure to get match. Review health insurance.
  • Widowhood: Get certified copies of death certificate. Settle the estate. Execute will and trust. File insurance claims. Notify Social Security. Claim benefits through deceased’s employee benefits. Notify financial providers, credit bureaus, utilities, and so on. Update estate plan and beneficiary designations. Remove deceased from accounts. Property titles. Update investment strategy.

👉  Get Ready Insiders can access focus areas for additional life events including: business ownership, caregiving, disability, disaster recovery, divorce, home purchase, inheritance & windfalls, leaving a job, military, moving, pet ownership, special-needs child and starting out (turning 18) & college years.

⭐️ Pro-tip:

👉  Stay prepared by updating your financial life as you encounter life events.

💭 Habit of the week: The Get Ready Habit that you can focus on this week.

👉 Review how any current life events impact your financial life.

💡 Get Ready Money Guide Tip: Discussion prompts and ideas for those following The Get Ready Guide Kit (access from your dashboard)

👉  Do you have any life events coming up that will require updates?

Want to get access to:

  • A deeper dive on each weekly action item with insider tips and fillable worksheets?
  • A guided walk-through of The Get Ready Method?
  • The Get Ready Toolkit, a library of resources and worksheets to help you be financially prepared?

Become a Get Ready Insider and you’ll have access to it all, and more!

PS. As an insider, you will also help support the Get Ready Newsletter and The Get Ready Money Podcast

Become a Get Ready Insider

Get Ready Insiders:

📝 Access your guided walk-through, fillable PDF’s and worksheets for this week’s action item from your dashboard.

List specific resource (The Get Ready Blueprint Week 4)

Access Your Dashboard here

🔙 TO WEEK 3️⃣     ⏩ GO TO WEEK 5️⃣ ⏩

About Tony Steuer

I make the complex world of financial services easy to understand so that people feel empowered to take control of their financial lives. A recognized authority on financial preparedness - in case of that disaster you did not expect - I advocate for ethics, integrity and consumer protection within the financial industry.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.