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Craig Lundquist, MBA, ChFC®, CRPC®
VP of Wealth Management
651-773-2757
Kristin Becker
Senior Administrative Assistant
651-773-2821
Ideal Wealth Advisors
Located at Ideal Credit Union
8499 Tamarack Road
Woodbury, MN 55125
CRPC conferred by College for Financial Planning
July/August 2022
Navigating Life's Changes
Change can be stressful, even when it’s something you’ve planned for, such as getting married or starting a family. But when a sudden life change that you didn’t anticipate ramps up the stress meter, taking a step back and assessing your situation can help you determine the best way forward.
Job Insecurity
Whether due to company downsizing or a business closing its doors, losing your job can be one of life's most demoralizing events. You no longer have a steady income, and your workplace identity doesn't exist anymore. Take a moment to catch your breath and review your options. If you received a severance package, you'll probably have some financial breathing room. Consider reaching out to business or personal contacts in your field. Even if nothing comes of it immedidately, having colleagues know you're available could bear fruit in the future.Loss of a Spouse
Loss of a spouse due to divorce or unexpected death can be devastating, both emotionally and financially. It's not uncommon for a divorced or widowed spouse to make hasty decisions that he or she may regret later. Avoid making major changes until you've taken time to assess your financial situation. Then proceed cautiously and with professional help.A Cash Reserve
You don't need a current emergency to start saving for one. The time to save for unanticipated expenses is long before you'll ever need the money. Savings in an emergency fund can cover your expenses if you experience a sudden unexpected loss of income. Your goal should be to save at least six months' worth of living expenses in an account that you can access easily without paying a penalty.Don't Go It Alone
In the event of job loss or another unexpected life change, you might need to adjust your budget and financial goals to reflect your new circumstances. Your financial professional can help you plan for a future that doesn't look the way you thought it would. Reaching out as soon as you're able can lift some of the weight off your shoulders while you're getting your life back on track.1-05268965
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Ideal Credit Union and Ideal Wealth Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Ideal Wealth Advisors, and may also be employees of Ideal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Ideal Credit Union or Ideal Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:
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