When Was Your Last Financial Checkup?

Nearly everyone has heard their doctor preach, at one time or another, about the need for routine checkups. Yet, how often do you consider the need for a review of your personal finances? By asking yourself the following questions you may determine that the time has come for a financial checkup.

• Do you have financial goals? If so, are they in writing and do they include deadlines?
• Is your debt under control? Do you pay off your credit cards each month?
• Have you reviewed your investment portfolio recently? Are you comfortable with the level of risk associated with your current investments?
• Are you satisfied with the rate of return that your investments are generating?
• Have you started a retirement fund yet? If so, will your current rate of savings provide an adequate fund to meet your future retirement needs?
Have you reviewed your tax situation recently to see if there are ways to reduce your tax liability?
• Have you started a savings program to meet the cost requirements of your children’s college education? If so, will your current savings rate be adequate given the effects of inflation and rising tuition costs?
• Have you reviewed your life insurance coverage recently? In the event of an untimely death, will your current policies provide adequately for your spouse and/or children?

If you are not satisfied with your answers to any of these questions, contact your financial advisor today. Together, you can work on getting your finances on track.

By W. Barton Close CFP^®

CFP®  |  Certified Financial Planner™  |  
Certified Financial Planner Board of Standards, Inc.,
owns the certification marks above, which it awards
to individuals who successfully complete initial and
ongoing certification requierments.