Thinking Slow When Life’s Changing Fast: Financial Planning in Times of Transition

Have you recently retired or is retirement rapidly approaching? Have you sold your business or are you considering doing so? Are you newly married or divorced? Are you dealing with the death of a loved one? Are you the recent recipient of a financial windfall?

If you answered yes to any of these questions, you share a common trait with millions of Americans-your life is in transition. And chances are, your money is in transition as well. Major life transitions are times of financial instability, and the decisions you make at these moments have long-lasting effects.

This short book is designed to help you navigate your life transitions by making wise financial decisions during times when wisdom can be hard to come by.

The book’s premise is a simple fact:

Life transitions present enormous financial opportunities and challenges.

This may seem like an obvious statement. Perhaps less obvious are the following two separate but related truths:

1. Financial decisions made during significant life transitions have an outsized impact on our long-term wealth.

2. During periods of transition, we are often the least equipped to make good decisions.

Understanding these two truths, and more importantly, understanding what to do about them, can prevent years of negative financial consequences and unnecessary confusion. It can make your own life, and the lives of your family and loved ones, easier and richer-not just financially, but emotionally as well.