Making Dollars Making $ense: Positives of the New Reality


Wealth Manager

There are many topics written on the “New Reality” since Covid-19 and how it has changed the way we think about and deal with matters concerning different aspects of our lives. Many of these focus on the negatives, but I would like to touch on some positives when it comes to your financial well-being.

Because of the disruption in our lives, many have become more focused on financial planning. They have become more aware that planning, like their lives, is not static. There are many changes and events that make us pay attention to our goals and desires for the future. Others, because of layoffs or displacements, have gained new opportunities that they otherwise would have never thought possible. Many have seen the opportunity to retire because they have worked with an advisor and knew they could do so with confidence. Some have even seen the opportunity for further education and a degree they never had time for before. Those that have been sequestered at home have in many cases actually found it more to their liking and, believe it or not, have been more productive.

It has also been an opportunity to reevaluate needs versus wants and free up money for emergency cash reserves and for reaching one’s future goals. This is especially important for those who do not have a pension and are relying on their 401(k), IRA and non-qualified accounts for retirement. Those that have not evaluated their dependency needs or future health care needs are looking at life insurance and long-term care coverage. There has also been a greater awareness of passing on values and wealth to the next generation. This can be as simple as using beneficiary designations or as complex as using trusts.

Clients often tell me it seems stressful to plan, but after we take all their information, analyze the data and create solutions for reaching their various goals, they often see that having it makes their lives easier. Having a plan of action and reviewing it regularly actually relieves the stress, especially during the events of the past year.  If you would like to find the positives during this time of disruption, reach out to us and perhaps, we can help you create a positive “New Reality” for the future. Here is to an even better 2021!

Securities offered through LPL Financial. Member FINRA/SIPC. Investment advice offered through Independent Advisor Alliance, a registered investment advisor. Independent Advisor Alliance and Marzano Capital Group are separate entities from LPL Financial.


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