Changes in Your Family Life May Affect Your Retirement Planning

Family Changes?

Life can take your breath away – whether you get married or divorced, have a child, or send your grown-up child off into the great unknown. All of these changes to your family can also impact your finances.

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Where are you now?

Gather account statements, life insuranceA contract between you and an insurance company where in exchange for predetermined premiums the insurer pays an amount of money to a person or people of your choosing once you pass on. policies, your will — anything that will help create a snapshot of your finances. Make sure nothing is overlooked. If married, you will want to gather your spouse's information as well.

Does your strategy still meet your needs?

As your family life changes, your financial strategy will need to adjust to keep up. Some changes you might consider:

Add or change the beneficiariesThe designated person or persons who will inherit the benefits on your investment in the event of your passing. of an account or policy
Increase your life insurance to ensure it covers the needs of your loved ones
Establish a will or make changes to an existing will
Contribute more toward retirement
Rethink your retirement age

Who can assist you?

Put the changes in place today to stay on track with your tomorrow.

Contact your current Financial Professional or an ING Representative today at 888-594-5067.

Is your family expanding?
Be sure your heirs are protected with a will and appropriate life insurance policy.

Starting to care for your parents?
Can your current lifestyle accommodate the change? Take a fresh look at your expenses and consider opportunities to increase your income.

Have the kids moved out?
Less demand on your income could create additional opportunities to save.

Raising your family on your own?
Reevaluate your will and beneficiaries to ensure your loved ones will be cared for properly even when you're not around.

Recently married?
Don't forget to adjust your beneficiaries. Also, map out your total household expenses and the amount the two of you can now put away for your future.