Question

What are 4 major life changes that warrant reviewing your finances?

For each change:

Describe how would your financial picture would alter, including how much money you will likely have coming in, your taxes, and your expenses.

List some key steps you should take in response to these major life changes to stay financially healthy.

Answer 1

Money management should be very wise full because it helps to fulfill our dream in future. There are so many stages come in the life which warrant review our financial planning.

4 major life changes

1. Graduation-Its a first major transition into adulthood. The progression from school to career is a significant milestone and the perfect time to get financial advise .

Whether it's me or my loved one has graduated that is also a great time to assess needs such as college debt repayment, savings strategies or insurance.

2.Marriage or Divorce-Professional finance advice is extremely beneficial at the time of marriage. Goals such as combining finances, handling credit issues or debt problem and building a successful financial life with spouse will be hard to establish without objective financial advice.

3. Adding a member to the household-New addition in a family will bring huge financial and life style changes. Education funds and will need to be created wills and insurance policy need to be updated and a whole host of new expenses willneed to be managed.

4. Buying and Selling Property-In case of buying a house a professional can help to review the situation in an effort to maximize tax benefits and deal with capital gain exclusion and taxes. Buying and selling property is not easy task and it is not worth to tackle it own.

After college life , life changes. Lots of responsibility comes forward which requires a financial backup.Job , marriage, family expansion, kids' education, property buying, kids' marriage and at last retirement. For all these responsibility, ther should be financial planning.d

We need some insurance plans for fullfilling the

Dream.