By Marc C. Shaffer
Life does not go as planned. It’s a wonder I survive as a financial planner who lives by a calendar and a process, because this statement rings true for everyone, even me. I have seen it in both my personal life and in the lives of the people we help every day. It’s probably the biggest reason I get asked, “So, what happens if…?”
You could have a plan for retirement that includes contributing to your employer-sponsored 401(k) account, only to decide to start your own business. You and your spouse may plan to have one child, only to find out twins are on the way, or you may plan to have several children, only to find out the costly process of IVF is your only option for natural childbearing. You could plan to use a vehicle you purchased for several years before passing it down to your teen only for it to be totaled the very next day. You could create a financial plan that sounds good on paper but does not fit with your lifestyle or financial behaviors.