It’s a new year. A time for a fresh start. And maybe, a time for New Year’s Resolutions.
If you are thinking about what to do to improve your financial life, I offer you a New Year’s Financial Planning checklist. The checklist covers 8 categories and includes 43 items for you to consider.
- Personal Issues. Review your financial goals, reflect on the year to come and prepare any coming life events.
- Cash Flow Issues. Do you have “extra” money that you should be directing toward a financial goal? Are you maximizing your employer’s benefits? Are you saving enough? Spending too much?
- Asset & Debt Issues. Are you buying or selling important property this year? Are your investments allocated appropriately for you goals? Do you plan to borrow money soon? Is your credit report in order?
- Tax Issues. Do you have all your documents to begin tax preparation? Are your investments held in tax-savvy locations? What changes to make in the coming year?
- Insurance Issues. Do you expect any changes in your health? Should your health insurance be adjusted? Do you have enough life insurance? Are you paying too much for your insurance?
- Legal Issues. How old is your estate plan? Are all your assets, including your home, titled correctly? Any changes in tax or estate law in your state? Are your trustees, custodians, or guardians named in your estate plan still appropriate?
Follow this LINK to the CHECKLIST to get your copy. As you review it, you may find that you have some questions or would like to discuss some of the topics with an experienced, highly-trained, CERTIFIED FINANCIAL PLANNER™ professional and Behavioral Financial Advisor. I love to meet new people. So, follow this LINK to find a time for us to have a get-acquainted visit.
I am a financial planner who is an advocate for my clients ALL THE TIME – a fiduciary financial planner. I provide guidance based on clients’ best interests, not commissions or sales quotas. I think it’s the best way to serve clients and I am thrilled to work this way all the time.
And yes, I’m still taking on a few great families to be part of my financial planning practice.
Dunncreek Advisors does not provide legal or tax advice, nor is this article intended to do so.