If you’ve recently been offered a buyout, retirement package, or lost your job during the recent mill closures due to corporate downsizing or other reasons, who do you look to for financial advice?
Rather than making any quick decisions, a good first step to gain clarity is to sit down with a knowledgeable expert, says Judy Simkins, Financial Advisor and owner of Lifecycle Financial in 100 Mile House.
“Sometimes you just need someone to run your situation past,” she says. “We want people to know we are here to help at this time with no cost and no obligation on their part. After all, this is our hometown too, and these are people who, in many cases, we have known a long time.”
Find solutions that fit, beware of tax implications
Whether you are looking at early retirement or facing the possibility of having to relocate, various factors come into play, says Apryl Case, another member of Lifecycle’s advisor team.
“People may understand their options but do not always know the best way to approach them,” she says. “We are here to help you further understand those options and any tax implications involved.”
Don’t panic – seek advice
Some people facing buyouts and early retirement packages have already connected with Lifecycle Financial to start working on ideas, Case says.
“One of our clients asked if he could refer people to us that he felt were panicking because they were at a loss over what to do,” she says. “We told him we want to help give them a sense of security and comfort during what we know to be difficult times, and asked that he encourage them to seek help.”
Experience, knowledge your best allies
With many years in the financial industry and experience with the cyclical nature of 100 Mile House’s economy, Judy and Dave Simkins and the rest of the team at Lifecycle Financial can help you navigate the rough waters. Feel free to call for an appointment at 250-395-2900, email them or drop by the office at 385 Cedar Ave., where their door is always open. You can also follow them on Facebook.