The spring real estate season is upon us. Once you buy or sell your home, it’s time to move. There’s a seemingly endless number of tasks to complete when buying or selling a home, packing up your belongings, and moving into your new place. And, even when you’re all settled into your new home and finally starting to feel comfortable, you realize the work isn’t finished: you still need to update the address on every correspondence you receive, especially as it relates to your financial life. To help you, we’ve put together this moving checklist to help make the process easier.
Bank, Investment Accounts, Mutual Funds, Children’s College Funds
Whether or not you receive your bank and investment statements in the mail, reach out to each financial institution that holds your assets and inform them of your new address.
Updating your insurance policies is essential, especially if you need to file a claim and the insurance company needs to contact you for information about the claim. Updating your contact information for your home, auto, and health insurance is important as some rates (especially automobile) might change depending on where you live. Each company should have an online account for you to update all your information.
Notify U.S. Post Office
The U.S. Post Office makes it easy to change your address and have mail forwarded to your new address on their website: USPS.com/move. The Post Office only forwards mail for a specific amount of time, so updating your contact information with other companies is still necessary.
Department of Motor Vehicles
Your state’s DMV will either have a website or a form for you to fill out in person to update your records with them.
Social Security Administration
If you don’t receive Social Security benefits or Medicare or Medicaid, there’s no need to inform the Social Security Administration of your new address. But if you do receive one of these benefits, you can update your address on ssa.gov.
Organizations and Clubs
If you’re a member of any club, organization, or recreational activity, make sure they have your new contact information so you can stay up to date with all they offer.
Cell Phone and Utilities
While you can get your cell phone and utility bills online, you may still receive printed statements each month. You can either update your contact information online or by calling the telephone number on the statement.
It may be easy to forget, but make sure to notify your employer of your new address so you can get all your important tax and employment information they may send. This is especially important regarding retirement and health benefits.
Credit Card Companies
Log in to your online account with your credit card companies to update your contact information; if you want, you can also ask for electronic delivery of statements and notices.
Doctors and Dentists
Do you get those friendly reminders that it’s time to book an appointment with your doctor or dentist? You won’t get those anymore if they don’t have your new address!
It’s easy to buy things online, but it’s also easy to breeze through the section about your billing and shipping address. Make sure to update this section before you place more orders.
Friends and Family
You love receiving those holiday and birthday cards and letters, but you might not receive them if your friends and family have your old address.
If you bought a home using a new mortgage company, they will of course have your new address. But, if for some reason your old mortgage company needs to contact you, you’ll need to provide your new address. The same is true if you’re renting and switch homes as well.
If you have your estate documents (Will, Power of Attorney, Healthcare Directives, Trust, etc.), notify your attorney who created them that you’ve moved and need to update your contact information.
Do you still receive any newsletter or magazine subscriptions? Make sure to send them an email or go on their website to update your information so you won’t miss an issue.
Business Owners, Contact Your State
Business owners should notify the state government agency of their new residential address.
IRS FORM 8822 and SS-4
In order to update your address with the IRS, including your SS-4 (which allows you to receive an EIN), you need to fill out IRS Form 8822.
To update your address for Medicare, you actually need to contact the Social Security Administration. If you have online access to your accounts, you can do that at ssa.gov.
We’re Here for You
We know moving can be stressful. If there’s anything you’re unsure about during this transition, we’re happy to help. At Sentinel Financial Planning, LLC we walk alongside you during every aspect of your life, even moving. If you’d like to learn more about our investment and financial planning process, reach out to us at firstname.lastname@example.org or (443) 906-1565 to schedule an appointment today.
Mark Humphries, CFP® is the owner and financial advisor at Sentinel Financial Planning, a boutique, veteran-owned and operated investment management, and financial planning firm. Mark focuses on helping federal government employees, military members, and business owners manage their investments and plan for retirement. As a former military service member and federal employee with over 10 years in the financial industry, he is familiar with the Federal Employee Retirement System (FERS) and the Thrift Savings Plan (TSP) and is uniquely qualified to serve his clientele.
Before working in the financial industry, Mark was enlisted in the U.S. Marine Corps from 1999 to 2003, during which he became familiar with the challenges military service members and their families face, especially during deployments. After seven years of working in the financial industry, Mark launched Sentinel Financial Planning to provide a better way for small business owners and federal employees to find reliable financial planning solutions. In addition to the CERTIFIED FINANCIAL PLANNER™ designation, Mark holds a bachelor’s degree in business administration from the University of Central Florida and a master’s degree in personal financial planning from Kansas State University.
Outside the office, Mark enjoys boating, fishing, hunting, and collegiate sports. Additionally, he is a member of the National Association of Professional Financial Advisors, XY Planning Network, Anne Arundel County Pension Oversight Commission, Naval Academy Primary School Board of Trustees, and Warrior Events Board of Directors. To learn more about Mark, connect with him on LinkedIn.