Family dynamics and financial planning will change many times over the years. Whether it is just you and your spouse, or a family full of children and grandchildren, let the RK Wealth Management team and it’s 50+ years of experience help guide you and your family as your lives and goals change.

Life Happens

We all face challenges and decisions over our lifetimes. How we respond to and handle these changes can have a profound impact on the ones we love. Each stage of life needs thought and planning.

At the core, it is important to build a strong foundation to shape a financially secure future for you and your family. Utilizing the various Life, Disability and Long Term Care plans available, in a thoughtful and strategic manner, can help to provide your financial foundation. In addition, regular savings and investment programs are essential.


As you plan to expand your family there are many financial decisions to make. Combining finances and sharing money can test even the most easy-going couples. Do we have one or two, or maybe even three bank accounts? How do we set up our budget and who will pay the bills? You will build your lifestyle based upon your combined earnings and now you have someone else who depends on you and your income. What are our goals now and into retirement? Getting on the same financial page is crucial.

Family dynamics can change over time. Children bring joy and responsibility. There are known expenses, like college and weddings, as well as unexpected expenses that take budgeting and planning.


Reality is that many marriages end in divorce, despite our best efforts. With care, you can offset some of the financial stress and focus on building the next chapter in your life. To avoid unexpected financial stress, you will need to be familiar with things such as property rights, alimony, debt, taxes, retirement plans and child custody and child support. You’ll most likely seek the advice of an attorney. Avoid emotional mistakes and work with a trusted advisor. Securing your finances is key. That next stage may also lead to a blending of families and finances. Patience and creating a framework for your new financial life is beneficial.

Aging is Inevitable

Learning how to plan for it is important. Whether it is planning for yourself or your parents, knowing the different levels of care and how to access services is important. How will you pay for Home Health Care, Assisted Living Costs or Long Term Care in a nursing home? Will you pay for these services out of pocket, pass some or all of the costs to a third party, or will a family member be able to help. The best time to explore these issues is now. Creating a proactive plan that meets both a parent’s and child’s needs can help you manage a difficult situation with minimal disruption.

What Do You Want Your Legacy to Be?

You can benefit others in many ways. You want to make sure you take care of your loved ones. You may also have the desire to help those causes and institutions that are meaningful to you. New or updated Wills / Trusts will help make sure that your current wishes are realized.

Your beneficiary designations on your retirement accounts, life insurance, and certain other financial accounts are separate from your Will. Because of this, it is important to make sure that you name beneficiaries on these types of accounts and review them periodically to verify your beneficiary designations are how you want them.

When was the last time you reviewed your beneficiary designations and the provisions in your Will? Take the time to think through and coordinate your affairs, to make sure your legacy and wishes are felt for many years to come.

Plan For Your Family's Tomorrow

No matter what life stage you are in, RK Wealth is ready to help you navigate through your life transitions. If you have not set up your plan, have not updated it in some time, or would just like a second opinion, please contact us.