Wait

One of my daughters sent me an article about surviving spouses who impulsively review and change their finances.

The article suggests that surviving spouses wait a while before making financial decisions.  And the definition of surviving spouse does not only relate to the death of a spouse but to divorce. 

Amy Floiran, a thanatologist (an individual who studies death), is quoted as saying, “[Financial] Advisors don’t know how to communicate during times of grief” because they concentrate on hard numbers and they are uncomfortable dealing with clients who are grief stricken.

She suggests the advisor needs to listen to the client, ask open ended questions, and help the client avoid making quick decisions. 

While I am usually suggesting we take action, this time I seem to be suggesting we take a few breaths and let some time pass before we make changes to our finances.  The old adage, haste makes waste, applies here.   But then again, we don’t want to wait too long.  Again, the uniqueness of the individual comes into play here.  There is no “one size fits all”; there is common sense, some quiet time, and then the opportunity for change.

Comments?