Post by Traci Kaas, Certified Financial Transitionist®
I’ve been studying people in transition as part of my training with the Sudden Money® Institute, which is the nation’s leader in the philosophy and practice of change management. The success rate for managing life transition events is disappointing, and the goal of the Sudden Money® Institute is to improve it. We’re achieving that goal because we now understand the nature of transitions, we’ve identified the most common problem areas, and we’ve developed strategies for preventing or resolving them. One of those problem areas is a phenomenon we call Transition Fatigue.
When major life change jars the client out of their current thoughts about life, big decisions are often involved. Some of those decisions will shape their life for a very long time. And one thing we know for certain is that when you feel thrust into a position where you believe you need to make life-altering decision after life-altering decision, and you’re still reeling from the idea that your life has profoundly changed, your ability to make good decisions is likely to suffer. This is the hallmark of Transition Fatigue.
Our study of people in transition has created a window into the world of Transition Fatigue and allowed us to develop a process for recognizing it and managing it. There are five areas of life that are affected by transitions: cognitive, emotions, behavior, physical, and work performance. Within each, we’ve identified warning signs that the particular area is degrading in quality. Here are some of those signs:
People who exhibit the above signs are not at peak capability and are very likely not ready to make important decisions. Major life events require far more adjustment than most people can see from the outside. When you’re on the inside, experiencing the various ways in which your life is changing, it’s tempting to want to power through. But sometimes you need to take a break. Not only is it okay to take a break, but also it will benefit the transition process. And the way to maximize the client’s time off from the flurry of feelings, thoughts, and decisions-to say nothing of money matters-is to enlist an advisor who is educated about the signs of Transition Fatigue and can help guide the client through it.
If any of your clients have experienced a life-changing event, don’t let them get to the point of Transition Fatigue. Contact me so I can help guide you both through it.
For more information about the human impact of a settlement on your client, as well as help structuring their settlement, contact me at 714-335-4977.