JANUARY2012
Mark Your Calendars
- Monday, January 2 – New Year's Day (observed, markets closed)
- Monday, January 16 – Martin Luther King Jr. Day (markets closed)
- Tuesday, January 17 – Quarterly estimated tax payments due, if required.
PLANNING TO DOS
- Make a financial resolution and stick to it.
- Pay holiday bills as soon as they arrive – Avoid high credit card interest rates.
- Download tax-form information at irs.gov or find forms at your post office or library.
- Assess your emergency savings. A good rule of thumb? Six to 24 months of living expenses.
- Set financial goals for the year. Reassess retirement savings and make adjustments if needed.
- Double-check your employer retirement plan contributions. Take advantage of any available employer match.
Download a Printable Timeline
FEBRUARY2012
Mark Your Calendars
- Thursday, February 2 – Groundhog Day. Shadow or no shadow, we wonder.
- Tuesday, February 14 – Valentine's Day. Show your love in creative ways.
- Wednesday, February 15 – Amended date original 2011 Composite Statement of 1099 Forms will be mailed.
- Monday, February 20 – Presidents Day (markets closed)
PLANNING TO DOS
- Organize your tax documents as they arrive.
- Review your budget. List priorities to attend to as the year proceeds, including paying down high interest debt, building an emergency fund or increasing your retirement savings.
MARCH2012
Mark Your Calendars
- Friday, March 2 – Employee Appreciation Day and National Salesperson Day.
- Sunday, March 11 – Daylight Saving Time begins. Don't forget to spring ahead and turn your clocks forward an hour.
- Thursday, March 15 – Use or lose any balance left in your healthcare flexible spending account, if you have one and your plan allows a grace period.
PLANNING TO DOS
- Ensure you have all necessary tax paperwork.
- Contribute the maximum to your IRA. You have until mid-April to do so for the previous year. Age 50 or over? Don't forget catch-up contributions.
- Consider contributing to your IRA for the current year. The earlier, the better, as contributions will have more time to generate tax-deferred gains and income.
- Find out when you'll be required to take distributions from your IRA. You must begin required minimum distributions (RMDs) by April 1 following the year you turn 70½. After the first distribution, IRA holders must take distributions by December 31 of each year.
Download a Printable Timeline
APRIL2012
Mark Your Calendars
- Friday, April 6 – Good Friday (markets closed)
- Tuesday, April 17 – Taxes due (Usual date extended because the 15th falls on a Sunday. Tax day may be moved to April 17 because of a conflict with Emancipation Day, a Washington, D.C., holiday.)
- Tuesday, April 17 – Quarterly estimated tax payment due, if required.
- Sunday, April 22 – Earth Day. Remember the three R's: Reduce, reuse, recycle.
- Thursday, April 26 – Take Our Daughters and Sons to Work Day. Educate your children about what you do, in a fun way, of course.
- Friday, April 27 – Arbor Day. Plant a tree.
PLANNING TO DOS
- Contribute to IRAs or Coverdell Education Savings Accounts for the prior year by the Tax Day deadline.
- Review your portfolio's asset allocation to ensure it's aligned with your goals and overall financial plan.
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MAY2012
Mark Your Calendars
- Tuesday, May 1 – Treasury Department announces semiannual setting of I-bond and series EE savings bond rates
- Sunday, May 13 – Mother's Day. Honor the important women in your life.
- Monday, May 28 – Memorial Day (markets closed)
PLANNING TO DOS
- Check the progress of your child's or grandchild's education savings plan. National 529 College Savings Day, which falls on May 29 (5/29), is a good reminder.
- Review your estate plan to ensure it is up to date. Check the beneficiaries of your IRAs, insurance policies and any other accounts. Update any that no longer reflect your wishes.
Download a Printable Timeline
JUNE2012
Mark Your Calendars
- Friday, June 15 – Quarterly estimated tax payment due, if required.
- Wednesday, June 20 – Summer solstice. The official start of summer and the longest day of the year.
PLANNING TO DOS
- Time for a mid-year checkup. Establish a regular savings plan and stick to it each month. Determine if your emergency fund is adequate.
- Rebalance the mix of investments in your portfolio.
Download a Printable Timeline
JULY2012
Mark Your Calendars
- Wednesday, July 4 – Independence Day (markets closed), celebrate American Independence Day with style.
PLANNING TO DOS
- Review your insurance policies. Make a point to periodically review your coverage and beneficiaries.
- Check the progress of your retirement savings. Adjust as necessary to meet your goals.
Download a Printable Timeline
AUGUST2012
PLANNING TO DOS
- Check for your state's sales tax holiday for back-to-school shopping.
- Revisit your education savings plans. As children and grandchildren head back to school, this is an ideal time to evaluate your education savings plan, especially if you missed the May 29 reminder. If you haven't started a college savings plan, investigate which type of plan would suit your needs best.
Download a Printable Timeline
SEPTEMBER2012
Mark Your Calendars
- Monday, September 3 – Labor Day (markets closed)
- Saturday, September 8 – International Literacy Day. Consider taking the time to read a story at an underprivileged school and donate the book to the classroom.
- Monday, September 17 – Quarterly estimated tax payment due, if required
PLANNING TO DOS
- Check your credit reports. Free at annualcreditreport.com.
- Prep for Medicare open enrollment, if eligible.
- During the fall, between September and November, the Social Security Administration traditionally announces the next year's cost-of-living adjustment (if any) in recipients' monthly checks. Keep an eye out for this important information.
Download a Printable Timeline
OCTOBER2012
Mark Your Calendars
- Monday, October 8 – Columbus Day (markets open)
- Monday, October 15 – Medicare open enrollment begins, ending Friday, December 7
- Monday, October 15 – Final day to file your tax return if you have an extension
- Monday, October 15 – Last day to recharacterize your Roth IRA conversion if there is a loss
- Tuesday, October 16 – Bosses Day. Buy your boss a cup of coffee and earn some brownie points.
- National Book Month – Visit your local library and select a book you haven't read before.
- Wednesday, October 31 – Halloween. Get creative with your costume ideas and consider making it yourself.
PLANNING TO DOS
- Discuss year-end financial and tax planning with your financial advisor. Ask your advisor to coordinate with your tax advisor and attorney.
- Keep tax limitations in mind if you plan to give tax-exempt gifts to relatives or friends this year. The limit is $13,000 per person (unchanged from 2011). Couples can double that amount.
- In October, the Internal Revenue Service traditionally announces next year's contribution ceilings for IRAs and other retirement plans. Contribute early in 2013 to get ahead.
Download a Printable Timeline
NOVEMBER2012
Mark Your Calendars
- Thursday, November 1 – Treasury Department announces semiannual setting of I-bond and series EE savings bond rates.
- Sunday, November 4 – Daylight Savings Time ends. Don't forget to fall back and turn your clocks backward an hour.
- Tuesday, November 6 – Election day. Remember to vote.
- Sunday, November 11 – Veterans Day (Veterans Day observed Monday, Nov. 12; markets open)
- Thursday, November 22 – Thanksgiving (markets closed)
- Friday, November 23 – Black Friday. Deals abound, but stick to a budget.
- Monday, November 26 – Cyber Monday. Stick to well-known, secure websites to avoid scammers.
PLANNING TO DOS
- Consult your financial advisor before acting on investment tips. As the holiday season begins, you're likely to pick up investment ideas around the party punchbowl. No matter the source, take the cautious path: Check out the facts before acting.
- Long-Term Care Month. Discuss long-term care issues with your advisor to ensure your future needs will be covered.
Download a Printable Timeline
DECEMBER2012
Mark Your Calendars
- Friday, December 7 – Medicare open enrollment ends
- Tuesday, December 25 – Christmas (markets closed)
- Monday, December 31 – Last open market day of the year. Planning to harvest tax losses? Keep this date in mind.
PLANNING TO DOS
- Implement year-end tax planning decisions. Including giving to your favorite charities.
- If giving gifts to children or grandchildren, don't rule out money-minded toys and games that could help further their financial education.
Download a Printable Timeline
Keep your finances on
track throughout the year with this
helpful month-by-month calendar. It’s an
easy way to keep track of deadlines you should know and actions you should take.
As you consider the
items on this
list,
be sure to work closely with
your financial advisor.
2012