The start of a New Year signifies a chance to start fresh. It is a time full of optimistic resolution making, new possibilities and the development of new strategies to implement throughout the year.
The beginning of the New Year is a perfect time to review your financial plans with your financial advisor. Call your advisor and set up an annual review to make sure your financial goals are still relevant and in line with your current life dreams (see the attached Annual Meeting Checklist for some ideas of what you can discuss during your review).
Download the Annual Review Checklist checklist as a PDF Download
- Balance your checkbook.
- Start a savings account for a child, a vacation, or a gift for yourself.
- Help teach your children to save 10% and spend wisely.
- Get your estate in order: create or review your will and other estate-planning documents.
- Call your financial planner and share your appreciation for their service.
- Pay off a credit card.
- Establish an emergency fund (three months is recommended).
- Evaluate your employee benefits.
- Develop a holiday spending budget (it’s never too soon to start!).
- Plan for year-end tax strategies now.
- Give a relative, friend or a colleague a subscription to a personal finance magazine.
- Invite a financial planner to speak at your workplace.
- Review your insurance coverage.
- Write down your financial goals and revisit them periodically.
- Look up three financial terms that have baffled you and resolve to understand them.
- Talk to a relative about their plans for long-term care.
- Calculate your net worth.
- Create – and stick to – a weekly budget.
- Keep your receipts and count up how much you spend on the “little things.”
- Open – and read – all your bills and financial statements.
Wishing you financial success in the New Year!
~ The Ward Team
