Andrew Grow, Investment Advisor (firstname.lastname@example.org)
Happy New Year! We made it through the holiday season, lovely winter weather is pummeling the northern states and playoff football is here. With more time being spent in doors (voluntary or not), this is a perfect time to do some planning for the year ahead. Let’s take a look at a few items to review. Perhaps it will take just a few small adjustments to start the New Year off on the right foot.
Retirement planning: It is finally time to make that change we’ve been putting off until… the New Year! If you have an employer sponsored retirement account (401(k), 403(b), etc), take advantage of that benefit. Contribute at least enough to maximize the employer matching contribution, and if you already are, try to contribute an additional 1% this year. These accounts help you save for retirement and have beneficial tax treatment for your contributions.
Saving goals: How does that emergency fund with at least three months, or better yet six months, of living expenses look? Is the money readily accessible (for example, in your savings account at your bank)? Life can certainly be unpredictable so setting money aside for emergencies is important. If you do not have an emergency fund already, or are struggling to save enough, try automating the process. Most banks or credit unions allow customers to set up automatic transfers from one account to the other (for example, from checking to saving) – scheduling the transfer a day or two after each paycheck may be a good time for the transfer.
Health and wellness: Taking a serious look at your overall health, both financial and personal, is important. Often times, being healthier on a personal basis positively impacts your financial health as well. Review any wellness programs offered by your health insurance and/or employer – for example, participating at a local gym may include premium discounts or cash rewards from an employer or insurance provider. Wellness programs range from filling out questionnaires to worthwhile incentives just for participating in an exercise program. You’ll find you have a greater chance of success when you find a program that you can benefit from.
Start 2016 off on the right foot! Review the positive aspects of the year passed, and keep up the good work. For the areas that left room for improvement, this is an ideal time to make a plan and stick to it.
Contact Andrew Grow, investment advisor at ISG Advisors, at 608-828-3707 or email@example.com for additional information or assistance.