In my opinion, one of the most over-used phrases from the pandemic was, “In these uncertain times…” I got pretty tired of companies and advertising reminding me about the uncertainty of the times. Thankfully, the mood eventually lifted as we adapted to a new version of normal life – albeit one where we wear slippers to work meetings.

Now, it seems, the uncertain times are back. Despite a decisive election result – or maybe because of it – the country feels unsettled and divided. Over the next few months there’ll be a lot of speculation about what changes are ahead for us and the world. Even when we embrace change, it can feel big and out of our control.

In these uncertain times…I find it helpful to calm big thoughts with plans that are more down-to-earth. I focus on what I can do for myself, my family, and the people close to me. I know that I can better take care of what’s important if I’m healthy, living within my means, and planning realistically for the future. Securing the things in my orbit that I can control puts me on solid footing to deal with the whole world of everything else.

Take care of what you can manage

One way to face these uncertain times is with a tangible, personalized financial plan. It’s a way to put you in control of your life so you know how you’re going to meet the needs of your family and keep working toward the future you dream about. It doesn’t mean you stop thinking about bigger issues. Just take care of yourself and your family first before you venture out to make your mark on the rest of the world.

Recently, the Arrivity team shared with me a list of 50 ways they help their clients. Looking at just a few of them gives an idea of how people use their financial plans to set a solid foundation for the rest of life:

• Game out scenarios. If you find that a good chunk of your brain space is being taken up by “what if?” questions, your financial planner can help you think about your worries in a structured way. 

• Take control of your money. If you’re concerned with how outside forces could impact your finances, a financial plan will help you make decisions that align with your goals and risk tolerance.

• Expand your financial knowledge. Your financial planner will help you understand tricky financial concepts so you can do the things wealthy people do to maximize their income and protect their assets.

• Think ahead about the inevitable. You’ve heard the old adage about death and taxes – the only certain things in life. Financial planning can help ease your mind with tax strategies as well as estate and legacy planning.

• Enjoy life more. When you’ve got a plan for your money, you can confidently budget for things that make you and your family happy like vacations and fun purchases.

• Have better conversations with your spouse. Financial stress can cause a lot of tension within a household, especially during periods of uncertainty. Your financial planner makes a surprisingly good mediator, providing objective answers to help sort out disagreements.

• Retire when and how you want. When you have a good handle on your financial situation you get to decide what your retirement looks like. This can help you know whether you need to work a while longer, if you can cut back to part time, or whether a retirement package would be a good deal.

• Make career decisions with confidence. Uncertainty can bring about both scary and exciting professional opportunities. Your financial plan will help out when you’re thinking about changing jobs, starting a business, or participating in a different type of compensation plan.

• Be there for the next generation. Perhaps you’re not worried about yourself – you feel pretty secure – but you worry how your kids or grandkids are faring. Use your financial plan to identify ways you can help out without sacrificing your own standard of living.

I’m not going to stop believing that I can make change in the world, but I also believe that I can’t do much if I’m feeling insecure about my own situation. If you need help battening down the hatches in a sea of uncertainty, give Arrivity a call.

Things to think about in these uncertain times:

•  If worries are keeping you up at night, remember that it’s usually not a good idea to make sudden moves with your investments. Call your financial planner if you think your personal strategies don’t align with the current reality.
• The internet is going to be teeming with speculation over the next few months. Be thoughtful about what advice you follow or believe.
• Your friends may be making financial decisions that give you FOMO. Keep in mind that your financial plan should be custom to you – check with your financial planner before following the crowd.

Tell us what you think! If you’ve worked with someone on the Arrivity team to create your financial plan, we’re looking for your feedback. Please take a moment to complete our short anonymous survey HERE.

Please contact us at 206.217.2583 or info@arrivity.com if we can assist you or someone you know with financial planning.

The foregoing content reflects the opinions of Liz Behlke and is subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that the statements, opinions or forecasts provided herein will prove to be correct. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.