5 Simple Questions to Take Your Financial Pulse

I know that the sun has been out almost every day since the middle of March, but that is no reason not to take a few minutes out of your year to review some important financial questions.  Rather than make things overly complicated simply answer the five questions below.  While this is not meant to be a comprehensive exercise,  if you are content with your answers you are way ahead of the game.

Answer these 5 simple questions:

  1. Have you decided what the most important things are that you want to do this year and set aside the money you need to make them happen?

  • Did you remember to put your next vacation dates in ink on your calendar?


2.   Do you have plenty of money set aside in a liquid account for emergencies or unexpected large bills?

  • I find this gives more peace of mind than anything else.


3.   Have I reviewed my investments in the past six months?  If you are not, who is?

  •  How are they doing relative to their appropriate benchmark?




4.   Is it time to refinance your mortgage, again?  15-year rates are near 3% and 30-year rates are near 4%

  • These days you can refinance even if your loan to value ratio is very low. 
  •  I am in the process of refinancing to a 15-year loan so that my mortgage will be paid off about the time my kids are out of college.  It will cost my about $600 more per month, but shave 13 years off when my home will be all mine!


5.   If you have children and are hoping to help them pay for college are you taking full advantage of 529 College Savings Plans?

If you are content with your answers to these questions you are way ahead of the game.

Enjoy the wonderful summer we are store for.

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