What triggering event can prompt financial reviews?

Major life changes such as marriage, divorce, or starting a new job are significant events that can greatly impact an individual's financial situation. These changes often necessitate a comprehensive review of one's finances to ensure that they are aligned with new circumstances.

For instance, getting married may lead to shared finances including combined income, joint expenses, and decisions regarding investments or savings strategies. On the other hand, a divorce could require assessing asset division, ongoing support obligations, and adjustments to budgeting. Similarly, starting a new job might bring a shift in income, new benefits to consider, or even the need to update retirement plans.

In contrast, actions like buying new clothes, purchasing a phone, or even receiving a promotion, while potentially meaningful, do not fundamentally alter one's financial landscape in the same way. They may influence day-to-day budgeting or spending habits but do not typically trigger a need for a thorough financial review.