Financial and practical guidance for the transition from full-time parenting to home alone or with a spouse.

Coming Full Circle

As your kids head out on their own, the end of chaotic schedules can be a bittersweet change. It’s a great time, though, to reconnect with your spouse or friends. It’s also a great time to pause
and take a look at some practical things:

• Where you are financially
• Ways to simplify your life
• Where you stand retirement wise
• What’s on that “bucket” list?

Prospera LIFEstage™ Personal Guidance is here to help you think through this next phase in your life.

“A few years ago Jay was downsized from a local job we thought he would retire from. After a couple job changes he finally landed his dream job.

“During this time home mortgage rates took a major drop so we went to our local banking institution of 13 years and asked if we could refinance our home loan. We were told to come back after Jay had a work history with the same employer for four years. You can imagine the frustration.

“My son-in-law encouraged us to contact Prospera. They worked with us. “No” was not in their vocabulary. We were able to refinance our home loan, saving us thousands of dollars. So, when it came time to purchase a new vehicle our first thought was Prospera.

“If anyone needs a banking institution, Prospera would be our first suggestion. They really care and treat you like you are part of the family. We want to thank Prospera for giving us light at the end of the tunnel, giving us the financial freedom and giving us our dreams back!”

Janice and Jay Clark - Menasha, WI

Fresh Eyes Look at Your Budget

Some empty nesters say that things seem busier than when the kids were home. But one thing that’s almost always simpler is your financial picture: smaller household, fewer groceries, less transportation and entertainment bills…the list goes on.

That’s why it’s such a great time to use our budgeting template to document how things look now:

  • Income—all sources
  • Basic expenses, from food to entertaining
  • Debts, including mortgage and car loans
  • Insurance premiums

From car insurance to water bills, monthly expenses should have fallen nicely with kids gone.

A New Focus

You may discover that things look pretty encouraging financially as your new life takes effect.

Taking Stock

Once you’ve finished your current monthly budget, you can formulate a plan in terms of where you think you can spend less and where you might want to splurge.

• Can you remove a car, and the loan and insurance with it?
• Do you want a separate savings account for fun and adventures?
• Opportunities for debt consolidation?
• Home refinance or downsizing?

When your plan going forward is done, you’ll have a great idea of how much disposable income you’ll have for now and your later years.

Finishing Strong

With kids on their own, it’s time to strike a balance between enjoying life now and securing your future. Whether it’s dinners out, weekend trips or unusual adventures, setting aside funds for fun is important! Of course, that needs to be balanced with saving for retirement. We’ll discuss:

  • Disposable income
  • Timing for retirement
  • Current retirement funds
  • Projected needs for the future
  • Funding travel, a new car or other desires for today and future years

Investment Advice from Our Experts

At this stage, sound investment advice is critical, so we’ll connect you with Prospera Investment Services. You can plan for a secure future while also setting enough aside for some adventure!

Great resources to make sense of your finances