NEW TWIST IN YOUR CAREER PATH?
A financial realignment might be in order.
When your work situation shifts, it's wise to review insurance coverage, retirement savings and other aspects of your financial life.
Maybe it's a raise. Or a pay cut. A promotion. Or a layoff. Perhaps you're joining a new company, entering a new field, starting a business, reducing your hours or leaving the workforce altogether.
Whatever significant job-related change you're going through, you may want to recalibrate your financial strategies to better reflect this new phase of your life.
That may sound difficult, especially if you're adjusting to a new schedule, a new commute, new coworkers or new responsibilities. But a Thrivent Financial professional can help you examine your budget, savings, insurance coverage and other factors – so you can weigh your options and make adjustments if needed.
A professional change can alter how much insurance you have – or need. Meanwhile, you may want to modify existing retirement accounts – or explore new ways to save for the future.
CHECK YOUR PROTECTION
Life insurance can form the foundation of a family's financial strategy. It's crucial to know that if you pass away, your loved ones can count on some financial security. As you make changes during your career, we can help you keep this key piece of protection in place – and see that it continues to meet your family's needs.
PAY THE BILLS WHILE YOU'RE ILL OR INJURED
Regardless of your current work status, there's always a chance that illness or injury could keep you from fulfilling your responsibilities. If that would severely shrink – or wipe out – your paycheck, you may want disability income insurance. It can replace a portion of your income if a health crisis forces you off the job.
CONSIDER AN IRA ROLLOVER
Changing jobs might leave you wondering what to do with a retirement account you have through your previous employer.
One option is to move it (or multiple retirement accounts, if you have them) into a new individual retirement account (IRA) – a process called an IRA rollover. This step can help simplify your savings plan while providing tax and investment advantages that might not be available with other types of retirement accounts.
Has your job situation changed? Gauge how well your income is protected against future setbacks.
Want to Change the Subject?
Expecting another major event? Curious about an upcoming life stage? Explore more twists and turns you may need to navigate. And learn how Thrivent Financial can help.
MORE TO EXPLORE
It's one thing to change jobs. It's quite another to jump into an entirely new career. Making that move can be daunting. But the rewards can be worth the risk. And there are ways to help manage the transition.
Your insurance strategy can help provide protection and flexibility for you and your family. In particular, cash value life insurance can provide a range of options. And getting cash out of your life insurance may be easier than you think.
Some term life insurance contracts allow you to convert your term contract into permanent insurance. Term life contracts expire after a set time period, or "term." Permanent life insurance can last for your lifetime. Should you convert?