Financial Planning for Life Events Marriage is one of the major milestones in a person's life. In addition to all the lifestyle changes, marriage also brings a host of changes to both your and your new spouse's financial situation as well. If you haven't done this already, then certainly once the wedding cake is gone and the honeymoon is over, there are several important adjustments you need to make to your personal financial goals and retirement plan. Obviously, you are now saving and investing for the future financial well-being of someone other than yourself. As always, with every life step, begin your investing for the future with a plan. First, revise your budget from your single days to reflect your new marital and financial status. If you do not have a budget, there's no better time to start. Set up a spending plan that covers both short-term, basic needs such as housing, food, clothing and transportation, as well as one that covers such long-term needs as a larger home or apartment, a new car, vacations, etc. Update your personal accounts to include your new spouse. This includes your retirement plan account. If your spouse does not participate in an employer-sponsored plan, encourage him or her to enroll as quickly as possible. Figure in your new combined income when determining how much to set aside each month in your retirement plans and how to allocate money for expenses. Determine how much life insurance you and your spouse will need in case of a tragedy. This death benefit provides the surviving spouse the funds needed to pay for unexpected burial expenses as well as help secure his or her financial future. Let us help you plan for your life events. Have an advisor contact you directly for your personal consultation. #40030