By SJS Senior Advisor & Managing Director Jennifer Smiljanich, CFP®
Life is a journey, predictably full of the unexpected. We do our best to plan for the future we hope we will have, and then life events get in the way and throw us for a proverbial loop.
We have all experienced some variation of the unexpected. Sometimes, the unexpected can result in a positive change, and we count our blessings. It can get more challenging when an event has a negative outcome – you or a spouse lose a job or have a tough year in your business, a family member experiences a serious illness or disability, a child returns home after college with no future plans, and so on.
One of the most difficult experiences we face in life is the loss of a loved one, whether unexpected or not. Family members may be left with a lot of pieces to pick up and put back together, especially if they aren’t familiar or involved with the family’s finances. This can lead to uncertainty, and put a lot of pressure on the family at a time when they are least prepared to handle it. In our experience, when a person leaves a well-planned out path for their family, it provides some relief to their loved ones at a time of grief, even as their loss may still be difficult.
While we can’t be fully prepared for every possible contingency, we know there are smart things we can do to make life a little easier in the stressful times. So what can you do now to ease the burden on your loved ones in the event that some unexpected event prevents you from caring for your family?
Keep a list of important websites, usernames and passwords in a secure location, and – most importantly! – tell someone where to find it
This list might include email accounts, websites where you store family photos, and social media sites, in addition to information about sites where you can access your bank accounts and other financial information. Make a note to update this list any time passwords are changed. There are a number of apps that are available to store personal information. In fact, PC Magazine annually rates the best password manager appsbest password manager apps.
Review your estate plan periodically with your attorney
At least every five to ten years, or sooner if you experience a significant change in your personal situation. Also, take care to review your beneficiary designations every few years. If you have young children, be sure that the guardians you have listed in your will are still appropriate.
Consider keeping a list of contact information for trusted advisors and others who may be able to help fill in the blanks for your family members
If you rely on certain individuals to care for family members, pets, or even a second home, these might be useful contacts to include as well. There are web-based platforms, such as Everplans, that will store and organize this type of data for you for a fee.
No matter where life’s journey may take you, please know that all of us at SJS are here for you, all the time, every time. Let us know when and how we can help, whether by analyzing a financial decision, helping you understand a document, or just being there with an ear to listen.
Important Disclosure Information & Sources:
There is no guarantee investment strategies will be successful. Past performance is no guarantee of future results. Diversification neither assures a profit nor guarantees against a loss in a declining market.
Advisory services are provided by SJS Investment Services, a registered investment advisor with the SEC. Registration does not imply a certain level of skill or training. SJS Investment Services does not provide legal or tax advice. Please consult your legal or tax professionals for specific advice. This material has been prepared for informational purposes only.
Hyperlinks to third-party information are provided as a convenience and we disclaim any responsibility for information, services or products found on websites or other information linked hereto.
Suggested Reading
SJS Investment Services has been recognized in CNBC’s 2024 FA 100 list, an annual ranking of registered investment advisory (RIA) firms within the USA.
SJS Investment Services has been recognized in the Forbes / SHOOK 2024 list of America’s Top RIA (Registered Investor Advisor) Firms.
Every four years, we get the same question (whether you have asked it, or you are thinking it) – how will the election affect my portfolio?
As we approach the end of the year, we want to highlight some important financial items to review before the new year.
This Outlook includes our discussion of election time, financial to-dos before the end of the year, new SJS Perrysburg office, SJS Team updates, and looking forward to Q4 2024.
SJS Investment Services has been recognized in Financial Advisor Magazine’s 2024 Registered Investment Advisor (RIA) Ranking, an annual ranking of independent investment advisory firms within the United States.
As I approach my 40th anniversary as a financial advisor, I can't help but look back on the road I've traveled.
While people commonly hold their cash within checking and savings accounts, we want to highlight three short-term, interest-bearing investments that can be held within your investment account.
This Outlook includes Founder & CEO Scott J. Savage’s gratitude for your 40 years of trust, how you can earn more interest on your cash, welcoming new SJS Team members, and looking forward to Q3 2024.
For five graduating high school Seniors who shadowed us recently, we asked each student to write a summary of what they learned during the week.
One of The Ability Center’s services is the Assistance Dog training program, which helps individuals with disabilities achieve greater independence.
When working with investment managers, we want them to share that same client-first philosophy and sit on the same side of the table with us.
We want to emphasize some best practices that can help us work together to ensure your information and assets remain safe.
The Outlook includes our evolving MarketPlus® Investing philosophy by standing on the shoulders of giants, and ways to help protect your personal information and financial assets. We also highlight The Ability Center and look forward to Q2 2024.
SRDAX is a shining example of the value alternatives can bring to traditional stock and bond strategies.
As we begin the new year, we have some ideas for concrete actions to start your new year on the right foot, financially.
Isn’t this picture magical? It's Main Street in Sylvania, Ohio, the small town where I founded SJS over 28 years ago!
The SJS Q4 2023 Outlook includes our insights on small town values, MarketPlus® Investing, and planning financially for the new year. We also highlight new SJS Team members and look forward to Q1 2024.
To help you financially plan for 2024, we provide this resource with important numbers for the upcoming year.
SJS Investment Services has been recognized in the Forbes / SHOOK 2023 list of America’s Top RIA (Registered Investor Advisor) Firms.
In addition to family gifting, many individuals support giving to organizations that aim to help their communities. We highlight some strategies to make the most of your giving dollars.
You can consider putting excess cash into a money market fund, short-term U.S. Treasury bonds, or a short-term bond mutual fund / ETF.
The future of the housing market is uncertain, and its resilience will be a crucial factor in the broader economic landscape.
The SJS Q3 2023 Outlook includes our insights on gifting and charitable contributions as well as U.S. real estate. We also look forward to Q4 2023.
SJS Investment Services has been recognized in CNBC’s 2023 FA 100 list, an annual ranking of registered investment advisory (RIA) firms within the United States.
International Samaritan is a 501(c)(3) nonprofit organization that is working to break the chains of poverty and improving lives, particularly within garbage dump communities worldwide.
SJS has been recognized in Financial Advisor Magazine’s 2023 Registered Investment Advisor (RIA) Ranking, an annual ranking of independent investment advisory firms within the United States.
The SJS Mission is to empower you to build a better life. That extends to our teammates, clients, and community members.
The SJS Q2 2023 Outlook includes our insights on building up our local communities as well as market performance so far in 2023. We also share even more members of the SJS family and look forward to Q3 2023.
It’s important to recognize how difficult it is to predict what will happen in the short-term for investment markets, and how much margin for error there should be for any prediction.