2014 Financial Resolutions

This time of year, a lot of us start making New Year’s resolutions. We want to get in shape, quit smoking, spend more time with our families, etc. As 2014 quickly approaches, it’s important to consider making resolutions that could keep you financially fit as well. Here are a few resolutions to help you kick those bad habits that may be holding you back from pursuing your financial goals:

 

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Prioritizing Your Retirement Needs, Part II

In the first part of this article, we discussed several elements that often comprise the shape and tone of a retirement picture, and stressed the importance and absolute need to put some serious thought into how important each element is to you.

With the guidance of the Insured Retirement Institute's (IRI) “Retirement Expectations Checklist,” we have already explored several needs you must weigh as you think about and ultimately set into motion a solid and realistic plan. But we also acknowledged that determining how much you would need to save — and later, to earn — to reach your retirement number, how old you wanted to be when you left the workforce, how you planned to treat investments were just the beginning of several considerations you must ponder. And just for perspective, we noted how the baby boomer generation weighed in on the importance of these topics. In keeping with that tradition, we'll now list a few more issues for you to place in your retirement picture — you just need to determine how prominently featured they will be.

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Meeting with an Advisor: Be Prepared

 

When we go to the doctor, we are all used to hearing those basic questions that they start their check-ups with: “Do you drink?... Do you smoke?... How much exercise do you get a week?... Are you experiencing any pain?” Those questions, although simple, are critical to doctors. They use those questions to establish a baseline for how they will conduct the rest of the appointment and their advice and recommendations moving forward. An appointment with your financial planner works the same way.

There are specific things about your life, your spending habits, and your future plans that are critical to the plan that your advisor will lay out for you.

Your visit can be a lot more effective, and a lot more comfortable, if you know these basics ahead of time. In order to be prepared for your visit with a financial planner, make sure you think about these five points before you walk through the door.

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