WHAT IF?
Most unexpected events take place....of course when we don't expect it....
What if you became the only source of income in your household because you lost your spouse and your living expenses greatly exceeded your income.
Do you have a plan in place that can help you maintain your standard of living?
Are you prepared for life's WHAT IF moments?
Preparing a plan can prepare you for the possible pitfalls that may affect your entire living standard.
Scenario #1
The Cost of Procrastination....The story of Dick and Jane
Looking at Dick and Jane’s lifestyle it appeared they had a model life always entertaining, lavish cars, a beautiful home and well groomed children. Like many families they had a lot of debt. Jane was concerned about the What If in life....They Understood the need for a financial plan. However, they kept putting it off until they felt finances would get better...that's when the unexpected took place. Dick, who was the primary source of income, was killed in a car accident. He died leaving her to raise two young children with no additional life insurance to protect his income and cover their debt.
Like most, he didn't consider that when he left home to go to work that day, he wouldn't return. When, Jane received the phone call informing her that her husband Dick died in a car accident. The reality of her life unfolded.
Jane gave up her career as an attorney years ago, but began working part time over the last 5 years, while raising small children. Dick handled all the monthly living expenses since Jane had no prior experience managing money. Her family lifestyle was in for a drastic change. Jane and the children were left with a big mortgage balance, high end vehicles, substantial credit card debt, and unfulfilled college dreams. Her husband left her with a small company retirement plan and a small amount of life insurance coverage from his job.
That was it. Only a fraction of their lifestyle was covered.
Financial Concerns…..
What should Jane do?
The WHAT IF has taken place in her life.
What will Jane do to pay for her husband’s funeral, manage her substantial mortgage payments, and manage her debit?
How will Jane fulfill their dreams of sending their young children to college?
How will Jane pick up the pieces of her life? Will she be able to maintain the lifestyle she and her husband created?
WHAT IF that happened to you...After all IF is the center of LIFE.
Sharlene Jamison, Financial Consultant, offers securities through
Cadaret Grant & Co, Member FINRA/SIPC, and is affiliated with The Meridian
Financial Company,
The Meridian Financial Company
"Navigating The Future"
90 Lawrence Ave, Smithtown, NY, 11787
T-631-656-8198 - C- 917-670-5994
www.sharlenejamison.com
sjamison@ae.cadaretgrant.com