“The art of progress is to preserve order amid change and to preserve change amid order.” — Alfred North Whitehead
Have you moved to North Carolina or South Carolina from somewhere else or changed locations within the state? Moving is one of the most stressful life events, and with good reason: so many of the things you take for granted in your regular routine change!
It’s a struggle just getting settled into a new home– finding everything, unpacking and getting organized– and it’s even harder if you don’t know your way around and have to find new sources for the services and supplies you need.
If you have finally gotten most of that figured out, congratulations! If not, keep at it– you’ll get there soon. The hardest part is over, but don’t put your life back on autopilot just yet…
When you move, many of the underlying assumptions in your current financial plan may have changed. You need to update it now, especially if you are in a new state or have a new job.
If you don’t have a financial plan, there’s no better time to make one; the process is much easier if you set it up now while the information you need is fresh in your mind. And if you automate as much as possible, you can rest easy knowing you’ve taken care of all of the essentials since the move and are making progress toward your financial goals.
… Or you will be, just as soon as this one last thing is done.
If you have a new job and your income has changed, you need to update your financial plan— your income is the foundation on which your plan assumptions are based.
Your living expenses will likely be different– you have a new home, and the cost of living here may be more or less than what you are accustomed to.
If you have a new employer, you may want to move your 401(K) to an IRA to save on administrative costs or expand/improve your investment options.
If you have moved to another state, different laws apply, so your will and other estate planning documents will need to be updated.
In your new location, your taxes will likely change– rates vary by state, and local or other taxes may now apply (or may no longer apply).
Your plans for funding your children’s education may need to be updated because plans and funding options vary by state.
Because so many things may have changed, especially if you moved to a different state, it’s always a good idea to revisit your financial, retirement, estate and tax planning after a move. Even if you haven’t changed your state of residence, it’s a good idea to treat your move as a life status change and revisit your financial and other plans.
You will have to update your address on all of your accounts anyway now that you’ve moved to North Carolina, so you may as well spend a little more time and review them now to make sure they are up-to-date for your current income and family status, and that they accurately reflect your current goals.
You may be surprised at how much has changed since your last review. And if you never completed a full financial plan before, there’s no better time than the present to start your life in your new location off right, with a fully thought-out plan for your future.
To help you start life in your new home after you’ve moved to North Carolina with a financial plan that lays a solid foundation for your financial future, we offer a free guide, Managing Your Financial Life.
The guide includes handy tips and checklists to help you get organized and make key decisions about the building blocks upon which you will build to pursue your long-term financial goals:
We’ll send you the download link, no subscription needed.
(We won’t share your email address with anyone.)
If you’ve moved to North Carolina or South Carolina or changed location within the state and want to speak with an advisor, to discuss the particulars of your financial plan and make sure you have included everything so you can move forward with confidence, please contact us to schedule a confidential consultation.
We’ll be glad to help you make sure you’re on track to succeed and fully up-to-date for life in your new home. If you’re new to North Carolina, welcome!