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Better Financial Habits for the New Year

Happy New Year! Now that the toasts have been made and the ball has dropped, it’s time to put into action all the good things you resolved to do this year. Hopefully improving financial habits was on your list. The following are our Advisors’ financial resolutions for your consideration.

Greg Middendorf CFP® CCPS®

“Plan for life changes - As the old adage goes, ‘an ounce of prevention is worth a pound of cure.’ With that in mind, look ahead at any life changes you may have planned for the coming year, such as buying a home, paying for education, or looking toward retirement. While life is bound to bring surprises throughout the year, planning ahead for events you expect to happen can help you make sure you are well positioned for the next big life event.”  

Steve Hengehold, CFP®, RICP®

“If you’re still in the accumulation phase of your financial journey, focus on increasing your retirement account contributions. You may not be able to max out these accounts just yet but increasing your savings by 2-3% each year is a great habit to build.  

“Finally, remember to separate politics from investing. This is a good rule to follow all the time, but especially important to remember during an election year.“

Jim Eutsler, CMA, CFP®, ChFC®, EA

“Take a moment to appreciate all that you have and reflect on the smart choices you’ve made along the way that helped make it happen.  Maintaining an optimistic mindset can help with this, and studies have shown it can also lead to a longer, more productive life.

Jake Butcher, CFP®

“Get organized and simplify. Use the new year as a fresh start to clean up some of those financial tasks/jobs that you’ve been neglecting. Start small and build your way up to the bigger tasks you need to tackle.  

“Be sure to update your Estate Plan documents – it’s the #1 task clients procrastinate on doing. Do you have documents? Are they current? Start by reading your existing documents and refreshing those.” 

Vaughn Kellerman, CFP®, ABFP™

"For those in a long-term relationship with someone, plan at minimum a quarterly ‘financial date night’ where you take time to review spending, financial goals, etc. to ensure both are on the page and all spending is accounted for. Make it more fun by making it a date night with a home cooked meal and wine or reward yourself after completing the review by going out to your favorite restaurant." 

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