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Spring Equinox is upon Us: How your Financial Plan is like the Earth’s Orbit

My Financial Plan is an Orbit?

This year’s spring equinox occurs on March 20, 2019 at 21:58 Universal Time1. Did you know the fall and spring equinoxes are the only two times during the year when the sun rises due east and sets due west?1 Much like the sunrise and sunset, we know your financial plan rarely follows the exact course you’ve got in mind.

As your financial planning team, we aren’t here to blame or shame you into sticking to your plan or reprimand you if you don’t. Afterall, your plan was effectively written by you, we just put it all in one fancy binder! In all seriousness though, like the sun’s gravitational pull which guides Earth’s orbit, we’re simply here to help keep you on track with the goals you’ve set for yourself.

We understand sometimes life happens – an unexpected home repair, inheritance, medical expense, or a tax refund. That’s right, not all unexpected life happenings put a dent in the financial plan, some can move you further along!

Let us Know!

Whether it’s a bit of a setback, or a jump forward, we would be happy to help you factor it in to your overall plan. We have several ways you can update us on what’s going on and we’d love to hear from you whichever way you choose:

  1. Update your EMX site by using our Client Portal and clicking on the eMoney login. (Note: If your login credentials need to be renewed it’s a simple process which can be initiated by any of the ways below.)
  2. Call us! In this digital age it’s always nice to get an “old fashioned” phone call and connect with you.
  3. Email us – all the team emails are available on our team page, or for general questions you can inquire with info@teamcwm.com.
  4. Find us on social media – we’re on Facebook, Twitter, and LinkedIn.(Note: we do not advise sharing any sensitive information on social media).

Make Small Adjustments Now

If you find yourself with an unanticipated change in your plan it’s easier to make small adjustments now than it is to make a significant adjustment down the road. In case you’re curious just HOW BIG of a difference, check out this 3-step calculator to see the difference of saving just 1% more.

Using Fidelity’s example, saving just $12 per week can accumulate to an $85,000 difference at retirement. That’s a picture-perfect illustration of changes being easier to make when they’re small. Just as we fail to notice the sun rising and setting in a different place each day, few people would miss $12 over the course of a week. BUT if asked to come up with an extra $85,000 at age 67, or any age for that matter, it’d be a huge ask!

As we eagerly come into spring, do your future self a favor and use this equinox opportunity to do a plan check-in. It can be as simple as doing a quick self check of where you’re at versus where your plan has you. Or it can be a formal check in with us in the form of your Custom Wealth Inspection. Either way, we’d love to hear about your check-in experience and if you’re confident in the orbit of your plan.


References

  1. McClure, B. (2019). Does the equinox sun really rise due east and set due west? | EarthSky.org. [online] Earthsky.org. Available at: https://earthsky.org/?p=106531 [Accessed 28 Feb. 2019].
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