It seems that one household’s bills, mortgage payments, groceries, etc. is hard with two incomes – and you’re making it work with only one. You may be in a situation where you have a divorce settlement or an estate to deal with and all the decisions may be overwhelming. Throw in some kids and a house and before you know it, you’ve got a pretty big load and only one set of shoulders to carry it with.
Just like everyone else, you need a plan and, more than others perhaps, you need someone to talk things over with. We have found that a number of our single-earner households have budgeting concerns and different kinds of investing questions than a double-earner household.
In addition, some pretty major priorities change as well. If you are the only earner in your household, disability coverage becomes really important – possibly more so than life insurance. Benefits coverage also becomes a factor when only one person’s income is able to provide for a household.
Ultimately, everyone needs a plan, and you are no exception.
Call Chris Worby of Worby Wealth Management today to get one started for your household.