Annual Review
December 26, 2024
We made it! Another year in the books with plenty of new and exciting adventures to look forward to in 2025. But speaking of putting things in the books, the beginning of a new year is a great time to review how your plans or outside conditions have changed over the last 12 months.
Whether you are in retirement, gearing up for the transition, or still laying the path for your future, it is always advisable to evaluate your goals. You should track how well current conditions in both your life and the market are working to achieve them.
Established plans and brand new ones alike could benefit from an annual review. A reset may help provide confidence as you embark on a new year. Areas to consider include1:
- Creating a Personal Finance Inventory: Compile a list of all assets, liabilities, credit utilization, and your credit report.
- Set Goals: Divide your goals into short-term, mid-term, and long-term objectives.
- Create a Family Plan: Plan for children’s education, caring for aging relatives, and timing your retirement.
- Review Investments and Savings: Make sure the trends and movements of your current plan are consistent with meeting your future goals.
- Rebalance Your Portfolio: Adjust your portfolio to maintain your desired asset allocation and risk level.
- Review Taxes for Investments: Consider tax implications of selling assets and explore tax-loss harvesting.
Our professional team can help review your current finances and give you confidence and a clear course to begin the new year. Contact us to schedule an appointment to start off 2025 on a financially sound foot.