Life Event Planning

Significant life changes

As you get older, you experience events that transform the way you live. From being a carefree student and the days of being single to marriage, children, employment, and retirement, life always seems to be throwing up new challenges.

At Altermann Fuller Ltd, we have been on this journey many times, helping clients and their families as they grow and mature. This is why, as part of our overall financial planning process, we take potential future events into account, wherever possible, and provide you with a road map that can adjust with you as your circumstances change.

Some of the significant life changes we have assisted our clients with include:

Marriage

With the average cost of a wedding being in the region of $30,000, getting married is a significant financial and emotional commitment. Considering you will be tied to your new partner for the rest of your lives, hopefully, are either of you bringing debt or assets into the new joint arrangement? Getting married can also impact your tax status, spending habits, income, and general budgeting for the future. With financial disputes being a leading factor in many divorces, making sure you enter the marriage prepared and with a full understanding of the financial implications on both of you should help you to have a happy marriage.

In countries that allow it, some choose to prepare a prenuptial agreement outlining which assets are brought to the marriage by whom and detailing how finances will be arranged if the marriage doesn't work out as you'd hoped.

A new baby

The birth of a child is one of the most rewarding and life-changing events anyone can experience. Due to the challenges and responsibilities of a new child, it is vital you prepare yourself in every possible way.

Having a child takes a significant financial commitment. Even before birth, there are expenses involved in preparing a room, buying clothes, diapers, bottles, cribs, and all the accouterment that children need. This doesn't even account for medical expenses before, during, and after the birth for both mother and child. Once the initial baby phase is over, you face school fees, college tuition, and other expenses that seem to grow each year.

As part of your overall financial plan, Altermann Fuller Ltd helps you to prepare a realistic budget so you can relax in the confidence that you are still on still on track to hit your financial goals.

Divorce

Going through a divorce is not only emotionally exhausting, but it can also be financially crippling if you are not prepared.

Altermann Fuller Ltd can help you understand and protect your future financial security when going through a divorce by acting as your financial advocate. It is always important to have confidence in the choices you are making and especially so during a divorce.

Relocation

With the job market more and more fluid every year, many people find themselves being relocated as part of their career path, either by choice, perhaps to take up a promotion, or involuntarily at the behest of your employer. Either way, it is a disruption to your life, requiring children to move schools, a new house needs to be bought, the sale of existing property arranged, and the list goes on.

Children's Weddings

While we have moved on from the tradition of the bride's parents paying for their daughter's wedding, these days, parents from both sides of the aisle are more likely to contribute. However, sometimes this is not possible, and one family covers the majority of the expenses.

Special Events

Wedding anniversaries, coming of age parties, family reunions, baptisms, the list of notable events seems to grow with each generation, and so does the cost. The more extravagant the event, the more forethought and financial planning is required to ensure you enjoy the event to the maximum and your daily finances are not impacted more than they need to be.

Helping out family

Families are a blessing but can also sometimes become a financial burden. Maybe due to unforeseen circumstances, illness, or infirmity, one or more of your close family members may rely on you to help them in times of need. Sometimes you see this coming, and sometimes you don't. If you know you will be assisting a family member in the near future, preparations can be made to accommodate these expenses in your overall financial plan.

Higher Education

At least with higher education costs, you know when your child or children will be embarking on their higher education and have time to prepare financially. The sooner you start saving, the less the tuition, housing, and living expenses will impact your life.