Financial Coach: A Call To Action Preparing for 2021

This week's article is going to be a little different from the past. This is a call to action. This is a call to open up investment statements and really review them and make the decisions to have it allocated in the best position to meet your needs.  If income and protection is what you need now, let's review options.  This is a call to review your insurance portfolio including health, life, disability and long term care insurance, if you have it. The next few months I am going to work with you to finally get your financial house in order so that next year you can start fresh and have the tools in place. We are going to do a renovation and spruce up. Let's find additional income. Let's reduce your household expenses. Additionally, we will review additional concerns you may have if you’re considering returning to work in this COVID environment. What are your options? How will your decision impact your medical insurance, ability to work elsewhere, apply for and get social security disability insurance and income tax liability. Are you ready? Let's work to make sure you are ready to go into the new year with the confidence and resources you need.

Over the next few months my articles will focus on Medicare changes  and options in preparation for open enrollment. There are expected changes to Medicare. You will have the opportunity to work with me to have a plan in place to make needed changes and or find additional financial resources to bridge the gaps. Review your insurance benefits from your employer and or other private insurance. If covered by short term and/or long-term disability ask for coverage details. Make a list of all medications including over the counter. Include co-pay, and co-insurance cost.

If you’re currently working, have you considered how your life would change financially if you were suddenly unemployed? Would you still have insurance, possibly through a spouse or through COBRA? What if your employer didn’t have a COBRA plan? If so, could you afford it now that you are no longer working? Who else in your household will be impacted by this? What other sources of income or savings will help you keep your head above water? Most importantly, can you risk going on as usual as if everything will somehow work out?

Now more than ever it is imperative that you review your entire financial picture and get a handle on what you can change now in preparation for the future. I’m sure you’ve heard the saying, “If you fail to plan, then you plan to fail’. That saying has never been truer today than ever before. Let’s all start on a true, proven plan together to make sure next year is less stressful. I will be providing individual review and recommendations for your financial health including finding resources and helping you apply, as well as helping you establish a budget. Don’t worry, it will allow you to breathe not feel imprisoned!

I am setting aside 10 hours each week in 1 hour slots to help you personally. They are first come first serve. As always, I am a free resource to you.  

You can find and request me as a Financial Coach here. 

Diahanna Vallentine, BCPA

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