Now Is A Good Time to Talk Finances

It’s that time of year again!

Yes the holidays are here.

Where has the year gone!  I’m I the only one that feels that the year has flown by?

I have so much to be thankful for.

I hope you and your family do too.

I am thankful each and every single day, but the holidays are that special time of the year that I love to take the time with my family to reflect on just how much we really do have to be thankful for.

The holidays can also be a great time when gathered with our families to have those discussions that we so often try to avoid.

You know the conversation around money, retirement and estate planning.

This is especially true if you have never taken any action towards you retirement and estate plan.

For those who already have a retirement plan and their estate plan in place, here are my tips for reviewing these plans.

Investments.

Do you know what you are currently invested in?  Do you know if the investments that you have are still the right investments for you?    When was the last time you had your investments reviewed?

IRA Accounts.

Have you made your full contributions into your retirement accounts?  This is a great way to help reduce your tax bill.  If you don’t yet have a retirement account now may be the time to get one set up?

Beneficiary Review.

Make sure that you review your beneficiary designations on all your insurance policies and retirement accounts.  More often than not this is something that people do initially and they forget to go back and make sure that their hard earned money is going to go where they want it to go.

Estate Planning.

Often this is like beneficiary reviews, something that we set up and forget to ever go back and review.  If you have had your will and trust for a long time now will be a good time to make sure that there have been no changes that need to be reflected in your will or trust and also to make sure that there has been no changes in the law since you had them drawn up.

So this holiday season don’t let this be the time that you forget to take action on all that we you are thankful for your money, your future and your family.  Take the time to have that uncomfortable conversation around your retirement and estate plan as it is the only way to ensure your families security for the future.