Can you afford to live the life you really want? You have to take control because ignorance is not bliss when it comes to your money. If you don’t know what to do or how to do it asking for help is your first step. We all need support when learning new skills. Financial decisions have to be made every time you turn around. Everyone has an opinion but not everyone is an expert.
This is your future security so be very cautious.
• Ask your bank about their Financial Planning Consultants.
• Talk to your Insurance Agent about your policies and financial planning.
• See your Lawyer to redo your will and ask about a living trust fund.
• Think about preplanning your funeral – it’s a gift to the family.
Balance your check book and get your bills together. Know what is coming in and what is going out every month. Identify the expenses that are unnecessary and get rid of them. Ask yourself what adds value to your life.
Losing your spouse is the # 1 life changing event in a widow’s life. You’re not thinking clearly (even if you think you are) and yet you’re expected to make financial decisions that will impact the rest of your life.
Don’t stand back and let others rush you into “clearing up the paper work”. Take time to reflect on what you want for your future.
- Gather up all your legal and financial documents in one place.
- List outstanding bills – monthly and yearly.
- If your spouse had been working ask about benefits/last payout.
- Convert joint accounts into your name only.
- Apply for government benefits and pensions.
- Rewrite your will.
- Keep insurance payouts in safe account so you plan.
- Hire a financial adviser or seek advice from your local banker.
Mary Francis, The Sisterhood of Widows