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Getting Your “Financial House” in Order

By Flip Ruben, Certified Financial Planner (CFP®) For most people, buying a home may be the single biggest purchase of their lifetime. As you evaluate your housing needs, wants and wishes, it’s also the perfect time to evaluate your financial plans and get your “financial house” in order. As we approach the New Year, here are four year-end planning suggestions (if you aren’t already doing them!) Speak to your accountant or financial advisor about tax savings. Don’t wait until after the New Year. It may seem obvious, but many people do not proactively seek advice in the current tax year. Even if you do not itemize deductions, there may be opportunities to reduce your current year’s tax bill. Make the call today and review your situation. Start budgeting in the New Year. Do your lifestyle expenses align with your savings and long-term planning goals? Are your spending patterns consistent with your values and priorities? Budgeting can be a critical part of your financial well-being. Make an accountability pledge to yourself and begin budgeting. There are numerous excellent options, so pick one and stick with it for the New Year. Re-evaluate your portfolio risk. Did you know that over 90% of investment […]
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