2023 Financial Checklist
As winter turns to spring, we have officially closed the book on a very volatile year for the markets in 2022. The theme for 2023 is committing to your financial health. With tax season around the corner, and the annual "spring cleaning" period upon us, now is the perfect time to reorganize your financial documents and revisit your financial plan to track progress and verify accuracy. To assist with this process, we have created a 2023 Financial Checklist:
- Budget Worksheet: Establishing a process for tracking, planning, and controlling cash flow is a critical step in planning for a successful retirement. Creating a budget not only assists in more accurately assessing your financial condition and retirement readiness but can also highlight areas where adjustments are needed.
- Establish an Emergency Fund: Emergencies are inevitable and there may be times when we need access to cash at that moment. While credit cards can provide convenience in an emergency, they carry a cost with high interest rates and occasionally the inability to use credit for certain expenses
- Max out retirement contributions: Click to view 2023 Retirement Contributions
- Review and Gather Important Financial Documents:
- Personal balance sheet
- Recent account statements
- Statements from life insurance policies indicating death benefit, cash surrender value, owner and beneficiary
- Current and past year's Federal and State tax returns
- Estate planning documents
- Beneficiaries and Trust Contacts
- Trust Documents
- Update and Review Your Financial Plan
- Attend our document shredding event: Announcement coming soon
Blue text indicates hyperlink to additional resources