6 Life Events that Require Financial Advice | Long Island

By Kelley Caponigro
Assistant to the Chairman & CEO

Words like retirement, investing and insurance are usually associated with financial advice. But what about topics like birth, relocation or starting a business? It’s astounding how many common life events are overlooked that could greatly benefit from professional financial advice.

We’ve come up with a list of six life events to help you recognize scenarios in which your loved ones might benefit from meeting with an experienced financial advisor.

1. Birth. According to the U.S. Department of Agriculture, the predicted cost of raising a child from birth to age 18 was approximately $245,000 in 2013 – and that’s not including the cost of college.1 The word “pregnant” is rarely associated with things like college planning or life insurance, and while perhaps money is not your first thought after receiving the exiting news, it certainly shouldn’t be your last.

2. Engagement. Many young couples need help managing debt, joining their assets, and have tons of questions regarding insurance, home ownership, and their overall future together. Not to mention, the average wedding cost in 2013 was a whopping $29,858 – not including the honeymoon.2 Perhaps offering the name of a trusted financial advisor to the happy couple will be the best engagement present you can offer.

3. Death. Losing someone is difficult enough by itself. If a will is not in place, or if money is not available to cover funeral costs, it can make an already distressing situation even more heartbreaking. By working with a financial advisor to ensure that all paperwork, insurance issues and after-life decisions are agreed upon and securely in place, you’ll be left with peace of mind and the necessary time needed to mourn their passing, and celebrate their life.

4. Job Change. Congratulations are certainly in order, but a new job also means possible insurance questions, a 401(k) rollover, and perhaps even relocation. While you’re busy learning the ropes of a new company, let a professional financial expert who understands the process work behind the scenes to make the transition easy.

5. Divorce. The decision to separate can be one of the most difficult a couple must make. If a house, children or even pets are involved, the situation is propelled into an even higher level of difficulty, and must be handled with extreme care and attention. While many recognize the need for an attorney, it’s also essential to receive professional financial advice to help support yourself, your spouse and your family now and in the future.

6. Owning a Business. Their phones are never turned off, their inbox is constantly full, and most have never heard of a “lunch break.” Business owners are truly a unique group of individuals. They have recognized their passion, worked extremely hard, and hopefully created a successful business or product. Because entrepreneurs tend to deal with very particular financial matters and have very specific concerns, its key for them to choose a seasoned financial professional that can relate to their hopes and pacify their fears.

R.W. Rogé & Company, Inc. has the experience and expertise in helping clients navigate through many of life’s transitions. We’re also experienced in helping the ever-growing population of people caring for elderly parents, or anyone that has concerns about their health, or the health of their loved ones. In addition, questions regarding investments, retirement, and college and education planning are always welcome. Most importantly, we want to hear about your goals, hopes, dreams and fears, so that we can help you to Plan, Achieve and Live® the life you want.

Therefore, we’re thrilled to introduce the “Ask a Senior Wealth Advisor” button to our Web site. Simply visit our Web site, and click on the yellow button at the top right of the screen titled “Ask a Senior Wealth Advisor.” Your question will be answered by one of our experienced and knowledgeable Senior Wealth Advisors. Try it out here. Ask away!

To schedule a no cost, no obligation meeting with a Senior Wealth Advisor at R.W. Rogé & Company, Inc., please contact us at 631.218.0077 or e-mail info@rwroge.com.


1 http://money.cnn.com/2014/08/18/pf/child-cost/

2 http://www.xogroupinc.com/press-releases-home/2014-press-releases/2014-03-27-real-weddings-study-average-cost-of-wedding.aspx

Like Us on Facebook