So You Want Fireworks on Your Anniversary?

By: Red Hot Mamas

Published: July 16, 2014

Contributed by Liz Allen

So You Want Fireworks on Your Anniversary? Then get married on the fourth of July. That’s what I did. ‘How clever,” I thought as we set the date. No matter how old we get there will always be fireworks on our anniversary. Little did I know 23 years later, I’d prefer the colorful explosions in the sky over a romp with my beloved. Please don’t misunderstand me. The desire and the willingness are still there; it’s just that, what with the plethora of menopause symptoms flaring up, sex feels like a juggling act. And I can’t juggle.

So how does this relate at all to financial planning? You never know what the future holds. Just like I thought I’d never repel my husband’s amorous advances, you never know what the future holds in store for your financial circumstances. And if you’re invested in the stock market, you also know how unpredictable that ride can be.

If you’re no longer working and/or currently retired, it might be too late to start piecing together a new financial plan. Ideally, you should already be using a sound map with a sound strategy to help you realize your dreams and goals. Setbacks and unexpected circumstances should have been incorporated into that plan so even if there are surprises, you are not wiped out.

If you’re still working (or your spouse is working to support your family), review your financial plan annually. If you don’t have one yet, what are you waiting for?

While we “grow” through our physical change and find any way we can to cope with our personal world, the planet at large is also changing. The economy is changing. Job and career opportunities for our kids are changing. Geopolitical events rock our world and volatility isn’t just about the bi-polar lady behind you in line at the grocery store.

One way you can arm yourself and secure you future is to stop renting your 401k or your current employer-sponsored retirement plan and own it. Contact your plan administrator and find out if you are allowed to take in service distributions. This is not a rollover. You are not terminating your retirement plan. You will not pay penalties or taxes. This is a way of moving your existing invested retirement assets to a place where you have more control and where you can own what happens. If you want to see appreciation with the market, you will. If you want to prevent any downside movement, you will. If you can take this distribution, talk further with your advisor about how she can help you. Or ask me.

We don’t know what will happen. I do know there will be a Fourth of July and I suspect there will be fireworks. Just not sure I’ll be in the mood to juggle.

For questions on anything you read here or on financial planning, please feel free to Email Liz Allen.

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