Bruce R. Farman, CFP®, CEP®, RFC
1021 Matties Walk
Watkinsville, GA 30677
ph: 706.310.0145
fax: 706.310.0534

Transition Planning

"Life is what happens to you when you're making other plans".

Life transitions may be happy or sad, fun or challenging, voluntary or involuntary. Such transitions should never be faced alone. That's when family, friends and the church provide emotional support and practical guidance And when it comes to life transitions that have a financial impact, that's when a financial advisor provides technical advice and wise counsel.

It has been my experience that people seek financial advice subsequent to a transition in their personal world that may affect their financial world. A recent survey conducted by the CERTIFIED FINANCIAL PLANNER BOARD OF STANDARDS indicated that over 70% of people who consult a financial planner for the first time do so when they are experiencing a life transition. Some life transitions that have financial implications include the following situations:

  • Birth or adoption of a child
  • Child with special needs
  • Helping with children's or grandchildren's education
  • Insurance or legal settlement
  • Disabling injury or illness
  • Change in marital status
  • Career change
  • Sale of a business or real estate
  • Aged family member needs care giving
  • Inheritance
  • Death of a spouse or family member
  • Early and/or forced retirement

If the life transition is unexpected or imminent, people are forced to make or change plans without the benefit of financial planning's friend - time!

In addition, many people who experience a life transition are the least prepared psychologically to work through the financial issues and thus are most at risk of making poor financial decisions ... or procrastinating so as to avoid making decisions at all.

Drawing from my academic background as a psychology major in college and my first career as a teacher combined with my second career experience as a CFP® now exceeding over 20 years, I am uniquely qualified to coach clients dealing with life transitions to help achieve the hoped-for healthy transition.

Life often takes unexpected turns and my life counseling and financial planning teaching skills prove invaluable in helping clients.

Frankly, practically assisting my clients through the potential disruptions in their lives due to unavoidable life transitions is one of my most rewarding responsibilities.