Is it really possible that 2010 is almost over? It feels to me like it just got started. The only part that seemed to last forever was the campaigning for the midterm elections! But now it's time to gear up for the holidays, and develop some New Year Resolutions.
Of course there is the obligatory weight loss commitment, but besides that, I am going to offer my own "Top Ten List." Admittedly, it won't be as humorous as David Letterman's but possibly a bit more useful. So here we go with my combination of holiday suggestions and New Year Resolutions:
10. You've put it off long enough. It's time to get your estate planning documents up to date and finished.
9. "Estate planning" isn't just about signing documents, you may need to implement the plan. Call me to review the titling of your assets and accounts, and the named beneficiaries.
8. What about risk - an accident, lawsuit, or serious health crisis. For that matter, maybe the biggest risk is living a long and healthy life. Are you going to run out of money?
7. What about investment risk? When was the last time you took a careful look at your investments or got a second opinion?
6. It's time to review your assets, spending and income. Let's make sure there is going to be an estate left to plan. Should you make some lifestyle adjustments?
5. Get organized. Throw out the ancient records. Put the closed account records together and label them "closed accounts" and put the open ones together and label them "open accounts."
4. Get practical. Instead of a new Wii game, how about getting the grandchildren started with a small investment account. They can learn about the economy, saving and investing. Help them become the next Warren Buffet!
3. Take advantage of tax free income. Did you know that you can help pay for your grandchildren's college education with tax free income?
2. Simplify. Rollover all those old 401k and IRA accounts into single IRA.
1. And #1 on the list - STOP PROCRASTINATING! "Git er dun," Larry the Cable Guy.
