Life Transitions

Types of Life Changes - Waterstone Financial Services

The Traditional Approach to Financial Management

The traditional way to think about retirement focuses largely on the numbers. That may have worked well in previous decades. But economic events, technology advances, upheavals in health care, reduction of employee and retirement benefits, and global concerns fought on our own front steps have brought complications and uncertainty to all of us.

Changes in Society and the Economy Have Personal Impact

Social changes affect or characterize every aspect of society across the world. On a grand scale, they shape our major social institutions: economics, politics, religion, family, education, science/technology, military, legal system, and so on.

On a personal scale, they shape our relationships, values, attitudes, beliefs and behaviors. They influence our relationships, the different purposes you may have for your money beyond lifestyle, and your concerns about money when thinking about transitioning to the next chapter of life.

The Two Sides of Money

We have found that a more effective way to help people think about their money is to address both sides of it, the technical and the personal.

The Technical Side of Money

This is the way that the financial planning industry has approached money management for their clients for a long time. It’s about the client’s ability to wisely earn, spend, save, and invest. It’s about having the knowledge and skill concerning how different types of investments work, the risks involved, how to pull together a strategy, and knowing when to make changes and when to hold firm.

The Personal Side of Money

This is our ideas about money, our experiences with it, what we were brought up to believe about money, how were were taught—or not—to use it. It’s also about the emotions and energy we have about money.

We live in complicated times. Our money is core to our ability to take care of ourselves and our families.

Read more on The Two Sides of Money.

It’s Time for a Thinking Partner, Not Just a Financial Advisor

All of these demand more than a technician with a software program to create a successful plan. You need a thinking partner who not only provides financial advice and investment options but also helps you manage the changes you face. We do all we can to empower you by helping you make the right decisions at the right times with confidence.

Contact Waterstone Financial Services for a complimentary initial consultation.