Nothing like a checklist to help think about where you want to go in the New Year. This article appeared on Kiplinger’s website and I thought it was a good list to start thinking about five key areas of your financial life.
Income Plan…estimate your income and expenses for 2017. Look for areas where you can increase your earnings and trim expenses. One suggestion was to review your insurance. I started a list and found that I have 10 different kinds of insurance. My coverage includes life, disability, long-term health care, umbrella, home, auto, cabin, boat, health and dental. I had never taken the time to list all the coverage, who to contact in an emergency, how much premiums were and where I could save money. It started me thinking about organizing all my finances not only for me but for my family in the event of an emergency.
Investment Strategy…I did not have a complete investment plan in place when the stock market melted down in 2008. Looking at historical information on the market I have been able to create a plan for our investments that help guide how we invest. I wish I had this in place back in 2008 but now I know how I will hold my investments as the stock market rises and falls.
Tax Return…there are many tools online that will help you estimate your taxes. Planning for 2017 now will allow you to maximize your cash flow and find funds to invest and grow your net worth.
Health Care…people are living longer and this is having an impact on long-term health care. The insurance industry is consolidating, investment returns have been less than projected and people are living longer. This combination is causing the cost of insurance to increase. You should look at your coverage or lack thereof and determine how it is impacted with these changes. Most of us will need some long-term health care during our lifetime.
Estate Planning…looking beyond 2017, you should be considering the long-term goal of building assets for your life in retirement and for what you will leave for your heirs.
Good article to get you thinking about 2017 and beyond.
Headquartered in Eden Prairie, MN., SaveNotes, LLC provides a unique alternative to stocks, bonds and CD’s by providing fixed income with high return, while remaining easy to invest.
SaverNotes pays interest to its investors based on a variety of available investment amounts and maturity dates. SaverNotes have no fees or expenses and are available for any Minnesota investor. Current rates range from 3.00% to 6.00% based on terms of two to five years. Investors can also invest through their IRA account.
Regular | $2,000 + |
IRA | $25,000 + |
Term | Interest Rate |
2 Year | 3.00% |
3 Year | 4.00% |
5 Year | 6.00% |
Learn about how this investment fund was made possible through our investment partnerships and our experienced legal, wealth management, banking and accounting advisors at www.SaverNotes.com.