Financial goals are some of the most popular New Year’s resolutions. As you’re making yours, it may be smart to think about the bigger picture: being more proactive about your financial planning. Take advantage of the energy a new year brings to set personal milestones now.
The earlier you start making smart financial planning moves, the more time you’ll have to benefit from their impact. Here are a few things you can do to help you this year and beyond.
- Revisit your goals
- Think about life changes
- Keep your loved ones informed
- Consider tax impacts
1. Take a fresh look at your plan and goals
If it’s been a while since you’ve revisited your financial plan, or if you’ve never formally put one together, start by checking in on your goals. Have they changed in a way that means you should revisit your financial plan? For example, being closer to retirement may mean you’re thinking more about retirement income. Is your plan currently set up to get you where you want to go?