Introduction

  • Have you recently experienced a life-changing event – marriage, job change, arrival of a child or a new home?. Throughout these life stage events, your finances are affected by your goals and plans changes. Take a moment to think about your financial situation and examine your financial needs.

  • Have you considered how life events can affect your financial situation and how you can prepare for them? Marriage, becoming a parent or change of job is some of the life events that should prompt a re-evaluation of your financial portfolio. We have the educational information and tools to help you manage these life events and help you stay on track with your financial strategy.

  • When you are creating your financial plan, it’s important to understand that it’s not a one-time event but an ongoing process. Any time you can experience a life stage event, therefore it’s a good idea to review your financial plan and make changes as needed.

Getting Married?

  • As your individual financial goals become mutual, analyze some of the financial planning needs, which you must address to secure your family’s future financially. We can help you address some questions that will help you prepare to start a new family:

  • 1. What are your financial goals and how are they prioritized? How will you work towards these goals?

  • 2. Do you plan to buy a home?

  • 3. Do you want to have a child?

  • 4. Have you worked out a monthly investment plan?

  • 5. Have you analyzed the insurance needs of your working spouse?

  • 6. How much should you be saving for retirement?

  • 7. What is your risk tolerance for investing?

  • 8. Do you and your spouse have the same tolerance for risk or do you differ?

  • When you get married, your life changes and so does your financial needs. The Legal Bank can help you start your finances on the right path with an eye towards your family’s future dreams.

Becoming A Parent?

  • Financial planning is essential when having a new addition to your family, considering education expenses, tax implications and the insurance needs of your family. We can help you address some questions, while you prepare to have a child :

  • 1. Have you reviewed your health insurance to check the availability of maternity benefits?

  • 2. Have you reviewed your life insurance to cover not only the cost of living for future for your spouse and child but also cover her/his education as well as marriage cost?

  • 3. Have you thought of making adjustments in your day to day budgeting with increasing expenses and possible income changes, if your spouse takes a career break?

  • 4. Have you analyzed various savings choices for short-term expenses and long-term goals including the education and marriage of your child?

  • 5. With a new child’s expenses, it can be tempting to cut back on saving for retirement.

  • 6. Have you discussed ways to resolve to compete for needs to save for retirement and education?

Life Insurance

  • While you cannot exercise control over life and death, you can certainly plan for the financial security of your loved ones in the event of an unforeseen incident. Life insurance is the only financial tool that protects you financially against uncertainties of life in a comprehensive manner.

  • It provides financial security in the event of the death of an earning member of the family and is, therefore, an important constituent of any sound financial plan. Different types of insurance help protect you and your family in different ways against the cost of accidents, sickness, disability, death and other life-changing events.

BUYING A NEW HOME?

  • Home ownership is a core component of anyone’s lives. That is why it is important to build a budget for financial protection into your new home purchase. Need help with getting started as a home buyer and considering how your expenses will change with home ownership? The Legal Bankplanner can help you with some of the questions:

  • 1. Have you evaluated what you will need for a down payment?

  • 2. Will your home purchase have an impact on your other financial goals?

  • 3. Do you need to make adjustments to your financial plan?

  • 4. If you’re going to live in the home as your primary residence, do you understand the tax benefits of home ownership?

  • Once you’ve decided on your new home to purchase, we can assist you with various home-buying details, and help you stay on track to achieve your other financial goals.

CHANGING JOBS

  • If you’re moving to another employer, you will have some big decisions to make. Should you take your old employer’s retirement plan money with you? Which benefit options should you choose? How will your job change impact your financial situation? The Legal Bankcan helps you with some of the questions, while you are changing jobs:

  • 1. Do you understand your new benefits package and options, including health care, life, long-term care, and disability income insurance? Will you need additional insurance?

  • 2. Have you determined how your job change might affect existing employee stock options?

  • 3. How might your income and expense changes impact your future financial goals?

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