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Getting Your Financial House In Order
A few simple steps can make a dramatic difference in one's financial life, and there's no better time than now to get started. Instead of worrying about all the things we CANNOT control, why not put your energies into the things that you CAN control? A key step to financial success is setting and reviewing goals. In the meantime, small steps to getting better organized can reduce some stress.
1. Revisit your savings and spending plan. Utilize a Budget and track your spending. Pay yourself first. Participate in a retirement plan if you are still working.
Forms & Tools: Budget Worksheet
2. Reduce clutter - organize and consolidate old accounts. Have you recently changed jobs? Do you have a frozen 401k you need to rollover? Contact us to discuss consolidating some of your accounts. Keep yourself organized by signing up for paperless statements, proxies and annual reports.
Paperless Options
3. Review your Insurance policies. Do you have the right types of coverage? We can assist you in this complex area.
4. Beneficiary designations. Review the beneficiaries you have selected. Are they still the right picks? It is imperative to double check who you have named as a beneficiary of your retirement plans, IRA's, life insurance policies, annuities, and even your individual brokerage and bank accounts.
Forms & Tools: Beneficiary List
5. Update your Estate Plan. If it has been a while since you have consulted with your estate planning attorney, we recommend you do so soon. There have been some recent changes that may warrant you to update your Estate Plan.
As always, please contact us if you have any questions.
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