Kevin Murray · Murray Financial Services
5 Financial Crossroads That Could Reshape Your Finances
Life doesn't send a heads-up before it flips the script.
One minute, everything's on autopilot.
Next, you're switching careers or caring for a parent.
These aren't just emotional curveballs. They can come with serious financial consequences… like dipping into retirement savings too soon or facing surprise medical bills.
You can't control when life changes.
But you can be ready for what comes next.
Here are five key moments when life shifts and when your financial plan needs to adjust accordingly.
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Turning Points To Prepare For
DIVORCE
Divorce doesn't just split a household. It can unravel years of financial progress. Legal fees can climb fast, and for women, income often drops sharply.¹ Gray divorce? It's especially hard on retirement savings. While no one plans for it, revisiting your assets, beneficiaries, and timeline now can ease the blow later. Preparation turns disruption into direction.
INHERITANCE
An inheritance often shows up during heartbreak and without much warning. About two-thirds of high net worth parents with significant assets haven't told their kids what they'll inherit or if they'll inherit anything at all.² That lack of clarity can turn a windfall into a missed opportunity. Before making decisions, hit pause. Cover any tax needs, get clear on your goals, and move forward with intention. That's how you turn a tough moment into positive long-term impact.
CAREGIVING
Caring for a loved one is an act of devotion, but it often comes with hidden costs. Many family caregivers spend over $7,000 a year on out-of-pocket costs like prescriptions and home updates.³ A little planning can go a long way in easing the burden, so you're free to focus on what truly matters: showing up for the people who count on you.
JOB CHANGES
Starting a new job can feel like progress, but it's also when financial details get overlooked. About one in three workers cash out their retirement accounts when leaving jobs, potentially taking a costly tax hit.⁴ Some skip benefit elections or miss health coverage gaps. The good news? A few proactive moves, like rolling over savings and reviewing benefits, can keep your momentum going.
RETIREMENT
Retirement is full of big decisions: when to claim Social Security, how to turn savings into income, what accounts to draw from first. One misstep could mean higher taxes or a shorter income runway. But a thoughtful strategy keeps you in control. Line up your timing, expenses, and income now so you can retire with confidence.
These aren't just life events. They're financial crossroads where emotions run high and money decisions follow close behind.
Ready or Not, Life Happens
Divorce. Inheritance. A big move. A new chapter.
These aren't just life events. They're financial crossroads where emotions run high and money decisions follow close behind.
You may not get to choose when they happen. But you can choose how you respond.
And that's where a financial professional can make a meaningful difference.
Working with someone who understands your goals can help you move forward with more clarity, less stress, and fewer regrets.
You don't have to figure it all out alone.
If life's already changing, or change is on the horizon, let's talk about where you're headed and how to navigate what's next.
Sincerely,
Kevin Murray
Murray Financial Services
https://murrayfinancialservices.com
(530)896-5484
P.S. Sign up for my emails. My subscribers get my best insights.
Kevin Murray
Murray Financial Services
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Sources
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University of Michigan's Population Studies Center, 2025 [URL: https://psc.isr.umich.edu/news/research-shows-economic-consequences-of-divorce-in-the-us-vary-by-gender-race-and-ethnicity]
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CNBC, 2025 [URL: https://www.cnbc.com/2025/11/25/how-to-talk-to-your-adult-children-about-their-inheritance.html]
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AARP, 2024 [URL: https://www.aarp.org/pri/topics/ltss/family-caregiving/financial-supports-family-caregivers/]
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Yahoo! Finance, 2025 [URL: https://ca.finance.yahoo.com/news/why-its-easier-now-to-help-job-changing-americans-hang-on-to-their-savings-143319442.html]
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This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability, or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only.
This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific situation with a qualified tax professional.
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Murray Financial Services
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