Every time you are coming to the end of a year it is a good time to reflect on the passing year. If you did set any goals; how did you do? In planning for the coming year, you should consider the adjustments you need to make to be successful.
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| Personal finance checklist applicable to everyone |
There are several resources on this topic and it is very difficult to construct a list where all the items are applicable to you the reader. Therefore, only focus on the items in the list that affect you and use the other items as an incentive to plan to take advantage of those tips at a later date. In reviewing this
List of Things to Consider I realized that there were a few items that could universally be applied to most people were omitted, so I add a few more items below. They are:
- Check in with your planner or tax professional -
- Draft a budget -
- Consider a Roth conversion if you are still holding a traditional IRA -
- Maximize your gift allowance if you are using the gift strategy -
- Review or create your estate plans - Ask yourself this question: God forbid, but if your spouse, children, or parents do not have access to you would they be able to log into your computer or cell phone; can they get into your email, bank accounts etc? If your answer is, No; then write down all the information a family member would need in order for them to access your accounts, memberships etc. and put that document at a place that you know they would find it.
- Make sure you've reviewed all your credit reports for the year - In the future review a different credit report every 4 months.
- Set up bank and credit alerts online - When you set these alerts send them to your smart phone.
- Double check your driving status at your State DMV - Here you want to find out if there are any outstanding tickets held against you.
- Calculate your net worth - You may also check out the other calculators under the "Financial Tools" page by scrolling down to Calculators and then select "Cash Flow".
