Life events and milestones represent moments when clients have heightened financial planning needs. Identifying and acting on these events at the right time significantly improves engagement, demonstrates value, and strengthens relationships.
Why this data matters: People are most receptive to financial advice during life transitions. Reaching out at the right moment with relevant guidance is the key to effective client engagement.
Career and Employment Life Events
Job Change / Recent Employment Change
What it is: Client changed employers within the last 6-12 months
Detection method: LinkedIn updates, professional database changes, employment history comparison
Typical timeframe: Flagged if change occurred within last 12 months
Planning opportunities:
401(k) rollover: Old plan to IRA or new employer plan
Equity compensation: Exercise decisions for unvested stock, RSUs
Benefits review: New insurance options, HSA, FSA, COBRA decisions
Beneficiary updates: Update all accounts with new information
Income change: Adjust savings rates, tax withholding
Relocation: If job required move, housing and geographic planning
Optimal outreach timing: 1-3 months after job change
Example message: "Congratulations on your new role at [Company]! This is an ideal time to review your rollover options and optimize your new benefits package. Can we schedule 30 minutes to discuss?"
Promotion / Job Level Change
What it is: Advancement to higher position or responsibility
Detection method: LinkedIn title changes, job level increases
Planning opportunities:
Income increase planning
Increased 401(k) contributions
Equity compensation additions (RSUs, stock options)
Deferred compensation eligibility
Executive benefit packages
Tax planning for higher income bracket
Optimal outreach timing: First quarter after promotion
Recent Education Completion
What it is: Completed degree or certification in last 2-3 years
Examples: MBA, advanced degree, professional certification
Planning opportunities:
Student loan management
Income trajectory planning (post-MBA salary increases)
Career change implications
Tax deductions for education expenses
Family Life Events
Marriage / Recently Married
What it is: Married within last 1-2 years
Detection method: Public records, social media, name changes, address changes to shared residence
Planning opportunities:
Beneficiary updates: All accounts (IRA, 401(k), insurance, brokerage)
Estate planning: Wills, powers of attorney, healthcare directives
Tax planning: Filing status, withholding adjustments
Insurance: Life, disability, umbrella policies
Account titling: Joint vs. individual, community property states
Financial goal alignment: Combining financial plans
Debt integration: Managing combined student loans, credit cards
Home purchase: Often follows marriage
Optimal outreach timing: 2-6 months after marriage
Example message: "Congratulations on your marriage! This is an important time to update beneficiaries and coordinate your financial plans. Let's schedule a meeting to ensure everything is aligned."
New Child / Recent Birth or Adoption
What it is: Addition of child to family within last 1-2 years
Detection method: Consumer data, household composition changes, public records
Planning opportunities:
Life insurance: Term life for income protection
Disability insurance: Income replacement if unable to work
Estate planning: Guardianship designations, wills, trusts
Education funding: 529 plan setup
Budget adjustment: Childcare costs, reduced income if parent stays home
Tax planning: Dependent credits, child tax credit, FSA for childcare
Beneficiary updates: Add child to accounts
Optimal outreach timing: 3-6 months after birth (when sleep-deprived fog lifts)
Example message: "Congratulations on your new addition! When you're ready, let's discuss protecting your growing family with life insurance and starting education savings."
Children Reaching Milestones
What it is: Children reaching significant ages
Key ages:
Age 13-14: Bar/Bat Mitzvah planning, spending money discussions
Age 16: Driving (insurance costs), part-time work (Roth IRA potential)
Age 17-18: College selection, FAFSA planning
Age 18: Legal adulthood, estate plan updates
Age 22-24: College graduation, young adult independence
Age 26: Health insurance independence (off parent plan)
Planning opportunities:
High school (ages 14-17): College planning, financial aid optimization, 529 distribution planning
College age (18-22): 529 distributions, student loan strategies, teaching financial basics
Post-college (22-26): Launch planning, boomerang kids, shifting to retirement focus
Optimal outreach timing: 12-18 months before major milestone
Divorce
What it is: Recent marital dissolution
Detection method: Public records, address changes, name changes
Planning opportunities (sensitive topic—approach carefully):
Asset division settlement review
Beneficiary updates (remove ex-spouse)
Estate planning updates
QDRO (Qualified Domestic Relations Order) for retirement accounts
Tax status changes
Insurance updates (life, health, property)
Budgeting for single-income household
Optimal outreach timing: 6+ months after divorce (allow processing time)
Approach: Gentle, supportive, focused on fresh start and protection
Widowhood
What it is: Death of spouse
Detection method: Public records, obituaries
Planning opportunities (highly sensitive):
Survivor benefit claims (Social Security)
Estate settlement
Beneficiary and titling updates
Investment strategy review (single vs. married)
Income planning (loss of spouse's income/pension)
Tax status change (joint to single)
Long-term care considerations
Optimal outreach timing: 6-12 months after loss (after immediate grieving period and estate settlement begins)
Approach: Compassionate, patient, supportive. Offer help without pressure.
Financial and Property Life Events
Home Purchase / Recent Home Buyer
What it is: Purchased primary residence in last 1-2 years
Detection method: Property records, address changes, mortgage records
Planning opportunities:
Mortgage planning: Rate optimization, payment strategies, prepayment decisions
Cash flow adjustment: New housing costs vs. previous situation
Insurance: Homeowners, umbrella policy
Emergency fund: 6-month reserve for home emergencies
Tax planning: Mortgage interest deduction, property tax deduction
Estate planning: Property titling, wills
Optimal outreach timing: 3-6 months after purchase (settled into new home)
Home Sale / Downsizing
What it is: Sold primary residence
Detection method: Property records
Planning opportunities:
Capital gains: $250K/$500K exclusion planning
Cash proceeds: Investment and redeployment strategy
Downsizing: Lifestyle simplification, reduced expenses
Geographic arbitrage: Moving to lower-cost area
Estate simplification: Reducing assets, liquidity planning
Common context: Often accompanies retirement, empty nesting, relocation
Inheritance / Windfall
What it is: Received significant assets from estate or other windfall
Detection method: Difficult to detect automatically; often client-reported
Planning opportunities:
Investment strategy: Lump sum deployment
Tax planning: Inherited IRA rules, step-up in basis
Estate planning: Increased assets requiring updated plan
Debt payoff: Mortgage, student loans
Goal acceleration: Retirement, major purchases
Charitable giving: Share good fortune
Optimal outreach timing: 1-3 months after receipt
Age-Based Eligibility Milestones
Age 50: Catch-Up Contributions
What it is: Reaching age 50 during the year
Significance: Eligible for catch-up contributions to retirement accounts
Planning opportunities:
401(k) catch-up: Additional $7,500/year (2024)
IRA catch-up: Additional $1,000/year (2024)
HSA catch-up: Additional $1,000/year (2024)
Retirement planning review: 15 years to retirement for many
Peak earning assessment: Often highest earning years
Optimal outreach timing: Beginning of year turning 50
Example message: "You're turning 50 this year—congratulations! This is a perfect time to review your retirement strategy and take advantage of catch-up contributions. Let's discuss maximizing these last 15 years before retirement."
Age 55: Rule of 55
What it is: Age 55 during year of separation from service
Significance: Can access 401(k) penalty-free if separated from employer
Planning opportunities:
Early retirement possibility
401(k) vs. IRA rollover decision (lose Rule of 55 if rolled to IRA)
Bridge strategies to age 59½
Healthcare until Medicare (age 65)
Optimal outreach timing: Age 54-55, especially if considering retirement
Age 59½: Penalty-Free Distributions
What it is: Reached 59½
Significance: IRA and 401(k) distributions no longer subject to 10% early withdrawal penalty
Planning opportunities:
Early retirement feasibility
Roth conversion strategies (if in low-income years)
Distribution sequencing
Bridge to Social Security claiming
Age 62: Early Social Security Eligibility
What it is: Reaching age 62
Significance: First age eligible to claim Social Security (at reduced benefit)
Planning opportunities:
Social Security claiming analysis: Age 62 vs. 67 vs. 70
Spousal coordination: File and suspend, spousal benefits
Break-even analysis: Claiming early vs. waiting
Health considerations: Life expectancy estimates
Income needs: Necessity vs. optimization
Optimal outreach timing: Age 61 (one year before decision)
Example message: "You're approaching Social Security eligibility. The claiming decision can impact your lifetime benefits by hundreds of thousands of dollars. Let's analyze your optimal strategy."
Age 65: Medicare Eligibility
What it is: Reaching age 65
Significance: Medicare enrollment begins; critical deadlines
Planning opportunities:
Medicare Part A & B enrollment: Initial enrollment period (3 months before to 3 months after 65th birthday month)
Medicare Supplement (Medigap): Guaranteed issue period
Part D (prescription drug): Avoid lifetime penalties
HSA contributions: Must stop 6 months before Medicare
Employer coverage: Coordination if still working
Medicare Advantage: vs. traditional Medicare decision
Optimal outreach timing: Age 64 (12 months before eligibility)
Critical: Enrollment deadlines have lifelong penalty consequences. This is HIGH-PRIORITY outreach.
Example message: "You're turning 65 in [6 months]. Medicare enrollment has strict deadlines with permanent penalties for missing them. Let's schedule a Medicare planning session to ensure you're enrolled correctly."
Age 67: Full Retirement Age (FRA)
What it is: Reaching Full Retirement Age for Social Security
Significance: Eligible for full Social Security benefit (no reduction)
Planning opportunities:
Social Security claiming decision (now or wait to 70)
Retirement transition
Distribution planning
Tax planning (stacking SS with other income)
Optimal outreach timing: Age 66
Age 70: Maximum Social Security Benefit
What it is: Reaching age 70
Significance: Social Security delayed credits stop (no benefit to waiting longer)
Planning opportunities:
Must claim Social Security now (no further growth)
Retirement income plan activation
Distribution sequencing (Roth vs. taxable vs. traditional)
Optimal outreach timing: Age 69
Age 73: Required Minimum Distributions (RMDs)
What it is: Reaching age 73 (as of 2024; was 72, will be 75 in 2033)
Significance: Must begin taking distributions from traditional IRAs and 401(k)s
Planning opportunities:
RMD calculations: Avoid 50% penalty for missed RMDs
Qualified Charitable Distributions (QCDs): Up to $100K/year directly to charity (counts toward RMD)
Tax planning: Managing RMD income, Medicare IRMAA
Roth conversions: Before age 73 to reduce future RMDs
Beneficiary planning: Stretch IRA implications
Optimal outreach timing: Age 72 (year before first RMD)
Critical: First RMD can be delayed until April 1 of year after turning 73, but creates two RMDs in one tax year.
Example message: "You're turning 73 next year, which triggers Required Minimum Distributions. Let's plan your distribution strategy to minimize taxes and explore QCD options if you're charitably inclined."
Using Life Events & Milestones Effectively
Proactive Outreach System
Automated Alerts Set up dashboard notifications for:
Clients turning milestone ages (50, 55, 62, 65, 70, 73) in next 6-12 months
Recent job changes (last 90 days)
New homeowners (last 6 months)
Recent marriages (last 12 months)
Outreach Cadence
High priority events (Medicare, RMDs): 12 months advance notice + 6-month reminder + 3-month action required
Medium priority (job change, age 50): Single outreach 1-3 months after event
Low priority (interests change): Reference in next regular meeting
Personalized Communication
Event-Specific Templates Create message templates for each common life event, but personalize:
Use client's name and specific details
Reference the actual event (company name, child's name, specific age)
Tie to their unique situation
Offer specific value, not generic advice
Example (Poor): "Congratulations on your life event. Let's meet to discuss planning."
Example (Good): "Congratulations on your new role as VP of Engineering at TechCo! This is an ideal time to review your equity compensation package and ensure your 401(k) rollover from your previous employer is optimized. I've worked with several TechCo employees and can help you navigate your new benefits. Can we schedule 30 minutes next week?"
Timing Matters
Too Early: Before the event or during stress (avoid during immediate crisis)
Too Late: Opportunity passed (enrolled in wrong Medicare plan, missed RMD deadline)
Just Right: After initial chaos settles but before deadlines or optimal windows close
Timing guide:
Job change: 1-2 months after
Marriage: 2-6 months after
New child: 3-6 months after
Age milestones: 6-12 months before
Medicare: 12 months before turning 65
RMDs: 12 months before age 73
Sensitivity and Respect
Difficult Events: Divorce, widowhood, job loss, health issues require:
Compassion and patience
Supportive tone, not sales-y
Longer waiting period before outreach
Offer of help, not pressure
Recognition of emotional difficulty
Example (Widowhood): "I was sorry to hear about [Spouse's] passing. Please know I'm here to help when you're ready. There's no rush, but when the time is right, I can help with survivor benefits, estate matters, and any financial questions. Reach out whenever you'd like—I'm thinking of you."
Related Articles
4.3: Life Events & Milestones Charts
6.3: Timing Your Outreach
6.4: Building Conversation Starters
5.3: Demographic Data
5.4: Professional Data