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Life Transitions

Financial guidance for major life changes including inheritance, divorce, and career shifts

practical

I received an inheritance. What should I do?

First, take time—there's no rush to make major decisions. Park the money somewhere safe (savings account, money market) while you process both emotionally and logistically. Understand the tax implications, then develop a plan that honors both the gift and your long-term goals. Avoid lifestyle inflation and impulsive decisions.

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What financial planning should I do during a divorce?

Divorce requires separating joint finances, understanding asset division implications (especially for retirement accounts and real estate), and rebuilding your individual financial plan. Get your own financial advisor, understand the tax consequences of different settlement options, and update all estate documents and beneficiary designations.

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How should I financially prepare for a major career change?

Before a career change, build 6-12 months of expenses in savings, understand your health insurance options, and review how the income change affects your long-term plan. Consider the impact on retirement savings, especially if moving to self-employment. Don't forget about unvested stock, unused benefits, and 401(k) rollover options.

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How do I plan for caring for aging parents?

Start conversations early about their finances, insurance, and wishes. Understand their income sources, healthcare coverage, and estate documents. Plan for potential long-term care needs—the average cost is $5,000-10,000/month. Consider how caregiving might affect your own career and retirement timeline.