If you get an annual check up, shouldn't your finances get one too?
your finances can provide financial peace of mind. Here are a few items to review annually.
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- Insurance – Have enough
coverage for your home, auto, belongings, health and life. Review deductibles and consider an umbrella
policy for extra protection.
- Mortgage – Could you reduce
your monthly payments by refinancing?
Would a different type of mortgage (ARM, 15 year or 30 year) be more
- Household spending – Preparing a
household budget may identity ways to save.
- Retirement planning – Take full
advantage of your employer’s retirement plan and consider an IRA.
- College funding – Start saving
early. Consider tax advantaged options
like Qualified Tuition (Section 529)
- Investments – Divide your funds into equities, fixed income and cash
with an eye on your time horizon and risk tolerance.
- Income taxes – Take full
advantage of all tax savings tools like your retirement plan. Organize your records.
- Estate planning – Be sure your will
is up to date and that you have named an executor, a guardian for minor
children and have durable powers of attorney for finances and health care.