A recent survey found that 85% of Americans said their personal finances were causing them stress. One of the most common concerns was having enough saved for retirement. There’s no better time than now to review your current situation and make resolutions. If you’re feeling anxious, angry, or fatigued due to your money-related stresses, then consider these three tips for financial health in the new year.
#1 Establish a List of Goals
As the year goes by, significant events can impact your outlook on life and retirement. Unfortunately, these events sometimes force you to lose sight of your retirement goals. But, with the New Year comes new opportunities. Try revising your list from last year and when adding in new goals, separate them by short (1-2 years), mid (2-5 years), and long-term (5+ years). While “having a comfortable retirement” is a good long-term goal to have, you should try to create short and mid-term objectives that are more tangible and attainable to help you stay on track and achieve your overall goal.
#2 Get Ready for Tax Season
Tax season can be stressful, and it’ll be here before you know it. Gather your important tax documents recording your income and deductible expenses for the year. If you itemize your deductions, collect all your receipts and papers documenting deductible expenses such as charitable donations, mortgage interest, and state and local taxes. Also, get out last year’s taxes for reference, and make copies of any important documents you wouldn’t want to lose.
#3 Make an Appointment with a Trusted Financial Professional
Writing down your goals and getting ready for tax season is a good place to start, but sometimes you need that extra guidance. We start all of our relationships with a complimentary, no-obligation in-person financial review. We start with this process because we still believe in the power of sitting face-to-face when discussing something as important as your life savings.
We want to know the person behind the numbers and understand what’s important to them. Once we know that information, we can start designing a personalized plan to help them achieve their goals. Our mission is to help you achieve your retirement goals without taking on any unnecessary risk. Click HERE to request your complimentary, no-obligation review with Juniper Wealth Management.
