Guest Blogger: Andrew Horowitz, CFP, Horowitz & Company, Inc.
The start to a New Year is often a time that many people set some resolutions. As we know, weight loss and exercise is often at the top of the list. But how long do we keep those promise to ourselves? A week, a month, a year?
With future plans regarding financial security, how much thought is put into resolving that this is the year that a thorough portfolio review will be completed? How about a personal promise to increase the amount that is saved through retirement plans? What about keeping records in better order so that when tax time comes is an easy process?
For many, resolutions are promises that are broken too soon. For whatever reason, many of us start out the year with the best intentions and then somewhere along the line, life gets in the way.
One of the best ways to keep to a resolution is to write it down. Have it posted somewhere that is visible to be a reminder on a daily basis that this is goal not to be taken lightly. It is just as important to make resolutions that are attainable and within reach.
As for some ideas on financial resolutions that will help secure your financial future, perhaps consider:
- Reducing the use of credit cards and only buying what can be paid off my month end
- Refinancing your mortgage to a lower rate
- Maximizing the amount that is deposited to your company retirement plan
- Spending a few hours each week educating yourself on financial planning and investing
- A review of your insurance coverages
- Organizing your tax information early
There are plenty of ways to get financially fit this New Year. One of the best ways is to visit Mission Financial Solutions on a regular basis for market, financial and other updates.
Source: Mission Financial Solutions
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