Life Events
Advice for any path in life
Life is full of changes: starting a job, building a family, buying a home, caring for loved ones, preparing for retirement, and navigating the unexpected. Planning ahead helps you stay financially steady, protect what matters most, and make confident decisions at every stage of life.
Life events 101
Best practices
Here are some important best practices to guide how you approach major life events.
Expect the unexpected
Emergencies and life changes happen at every stage of life. Planning ahead reduces financial shock and stress.
Build emergency savings early
Even small, consistent savings can prevent major setbacks when life doesn’t go as planned.
Protect what you earn and build
Insurance helps prevent illness, accidents, or loss from turning into long-term financial hardship.
Update beneficiaries and documents regularly
Marriage, children, new jobs, and major life events should always trigger a review.
Plan for both today and tomorrow
Life planning includes short-term needs and long-term goals like education, caregiving, and retirement.
Talk about money with your family
Clear conversations reduce confusion, conflict, and stress during difficult moments.
Ask questions before big decisions
Housing, family planning, healthcare, and retirement choices often have long-term impact.
Terms & definitions
You need to know what things are before you can make sense of them. Here are some basic terms and definitions to help you navigate major life events.
Term |
Definition |
|---|---|
Emergency fund |
Savings set aside for unexpected expenses like car repairs, medical bills, or job changes |
Health insurance |
Coverage that helps pay medical and health care costs |
Open enrollment |
The time each year to choose or change insurance and benefit options |
Beneficiary |
The person or people who receive your money or assets if you pass away |
Power of attorney |
Someone you legally choose to make financial or legal decisions if you cannot |
Healthcare directive (living will) |
A document that explains your medical wishes if you’re unable to communicate |
Estate planning |
Planning how your money, property, and care decisions are handled after death or in an emergency |
Renters insurance |
Insurance that protects your personal belongings and provides liability coverage |
Life insurance |
Financial protection for loved ones if you pass away |
Retirement planning |
Preparing financially for life after full-time work, including savings, healthcare, and income needs |
Additional resources
Connect with SECU
In person or virtual. Connect with us when it’s convenient for you.
VISIT THE VIRTUAL FINANCIAL CENTER
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Life events FAQs
Yes. We offer unique mortgage loans for first time home buyers:
- 100% Financing – No down payment
- FHA – Low down payment
Yes, SECU offers student loans. Visit our student loans page for more information.
To calculate the cost of refinancing your first mortgage, use one of our financial calculators or speak with a mortgage advisor for assistance.
There are many factors that go into your credit score, including payment history and the amount of time your credit accounts have been opened and more.
Schedule a financial consultation with us to let us help you get started:
To add or remove a payable on death beneficiary, schedule an appointment at a financial center or our Virtual Financial Center.
