Megan Kopka (CFP®, CRPC®)

Planning Specialties

Suddenly Single?

Caregivers; Divorcees and Widows & widowers:  When your marriage is ends people will often tell you not to make any major decisions for a year. This is simply not possible.  Do not fall for this trite advice and avoid your finances.  Most people tend to avoid financial decisions from time to time.  Right now, for you reading this, avoiding finances may be a costly mistake where you could incur penalties or avoid timely decisions creating a good but now lost opportunity. You likely need help- now, not in a year from these events.  You will likely need a therapist and a CFP®. 

Your income has likely changed (or will); the name on your accounts, home etc. may need attention.  Next, your filing status will change; do you know when and how it will impact you?  Finally, your point person is gone- they were your “go to”, an accountability partner maybe the bread winner, the co-parent, power of attorney and they are disabled, sick, moved out or they have died.  Whoever and however your partner is or was to you has changed your life and what is the best way to figure “this” all out on your own?  In my part, it is to partner with you, research for you, assess your situation and prioritize your needs and action items.  I will listen and guide you and rewrite your comprehensive financial plan. 

Under stress and tackling a huge project like rewriting or writing for the first time is daunting.  Get a notebook, make a list, and get started. Be mindful that Financial Planning is an entire professional field, I for one, would strongly consider not going it alone and hire a professional. Interview three financial planners, I am happy to be one.