Big life moments may mean complex financial decisions

Big financial decisions

Most of us face moments in life when we must make a critical financial decision, like buying a home, considering a key investment, or even calibrating your financial plan. 

I’ve found those times are when it’s easy to feel exposed and under-informed. 

Folks like me combat those moments with research. 

I’m old enough to remember when Google wasn’t around, and “research” required perusing publications you trusted, or in some cases, involved a library card. (I’ll explain what a “library” is to you younger readers in a different column.) 

Today, a search will often result in loads of information about your predicament…

…which can often leave you feeling just as lost as when you began. 

You might be staring at pages of possible solutions. Which advice should you take? 

A good example of one of these complex moments is when you’re one of  thousands dealing with an employer merging with another company. 

You’re probably going to have to deal  with a lot of changes beyond a change in your email address. 

Often, employees of one of the merged companies must decide what to do with their retirement plan savings. 

When they can, employers will let you send your retirement savings over to a new plan – but that may not be your only option – or the best option for you. 

You may find that placing your retirement savings in an individual retirement account could better serve your plans for retirement and financial independence.

Researching for answers may leave you paralyzed. Internet searches will  yield thousands of opinions, but very few have a good handle on who you are or your specific needs.

If you’re encountering one of those big financial decisions, find an advisor you can trust – a fiduciary who isn’t trying to sell you a product while giving you advice – to help you work through the steps best for you.

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