A transition is “a life change characterized by a sharp break with the past.” Life’s transitions happen all the time. Often they don’t let you know they are on the way. What was, is no longer.

I recently lost my sister. Technically, Phyllis was my best friend. In actuality, she was the sister I always wanted. Fifteen years ago we adopted each other. Someone to watch our backs. Her transition smacked me upside my head and shattered me. But worst, the business that surrounds the death and dying process left me shell-shocked.

Are you one major transition away from an unexpected disruption of your life? How will an unexpected and unplanned for event impact you? Are you vulnerable? Have you put emergency plans in place? Do you have a Plan B to protect and shelter you from the devastation of unwanted change?

“The death of a loved one imposes cruel demands on the closest survivors. You, more than anyone, need time and space to handle your emotions, gather your thoughts and say goodbye. And yet demands are suddenly coming from all sides.”

I didn’t know. I was unprepared. Dumb is expensive. Here’s my heads up to you so you know.

Transitions

Many people are vulnerable to big transitions. The death of business partner you count on, a surprise divorce request, an unplanned move from your home, or getting laid off from your job can temporarily rock your world. Developing alternative plans — ones you hope not to use — can protect you emotionally and financially. Make a Plan B today and minimize the severity of tomorrow’s thunderstorms.

Yes, you’re married to a wonderful person. One you love and trust. Your relationship is secure and special. But ask yourself … what if? In America we have a 50% divorce rate. You gotta ask.

I’m a positive person. I prefer to think about what I want, not what I don’t want in my life. And yet such a limited approach can leave you at the mercy of those things you don’t want in your life.

Accidents happen. People change their minds. It’s important that you think about and consider the what-ifs. Then make provisional plans to protect yourself and your family.

Make A Plan B

Like what kind of plans? Step one is Keep a Cash Stash. In case your credit cards are unavailable, you need cash to manage a major life change. The cash must be accessible — you must be able to get your hands on it when you need it most.

Regularly add to a Personal Financial Security savings account. Such an account is often referred to as an “rainy day” or “emergency” fund, but — here I go again — I dislike the feeling of preparing for what I don’t want. A Financial Security account describes what the money is for and works for me.

You might open a new brokerage account with your favorite investment services provider and start a Financial Security equity fund. Or a Keep-Me-In-the-Manner-I’ve-Become-Accustomed bond fund.

Purchase life insurance where you are the beneficiary for anyone on whose support you depend. Key man insurance policies are standard in many corporations. You may want to have the equivalent. Insure the person or persons who are most important to your life running smoothly. It costs to grieve and takes time to replace their contributions to your life.

What other safety valves should be put in place to protect you? What do you wish you had known before you went through a big transition? Share your experiences with us here.

Start working on creating your Plan B today.

Peace and prosperity,

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