At some point in life you will be confronted with a life-changing event. These include the death of a spouse, a job loss, a major injury, or even something like a life-changing inheritance. When something like this occurs, you may be faced with some major decisions. You may feel pressure to get everything settled. In spite of this, we believe the best thing you can do is defer making the big decisions (ideally for as long as six months).

Major life changes come with emotional responses. It takes time to process these emotions. If you rush this process, you may make a choice based on an emotion you won’t be feeling in a few months.

Instead, keep your options open. Spend the time you need to think about where you want your life to go from here. Dream. What do you want to change? What do you want to stay the same? Of course, this works best if your financial life is in order going into the change. That buys you this valuable time.

If you need help navigating a big change, let me know.

Legal Disclaimer: These posts do not constitute an offer or recommendation to buy or sell any securities or instruments or to participate in any particular investment or trading strategy. They are for informational purposes only. CTW gathers its data from sources it considers reliable. However, CTW makes no express or implied warranties regarding the accuracy of this information or any opinions expressed by the author and may update or change them without prior notification.

About the Author: John O’Connor