It’s in my nature to be a guy that makes lists to help stay organized and get things done. We are finally getting sunshine in Chicagoland and have had temperatures above seventy degrees for two consecutive days. While that is long overdue, it’s time for a quick last minute check box before you “check out” for the summer.
⊗ I have clearly defined financial goals
⊗ I have identified what those future goals will cost
⊗ I have developed a savings/investment strategy to meet them
⊗ I am content with my emergency cash reserves
⊗ My estate plan (will and/or trusts) is solid and up-to-date
⊗ I am minimizing the taxes I owe from dividend and capital gains
⊗ I know my investments will not drop in value more than I am comfortable with the next time the stock market has a big drop
⊗ My life insurance and long-term care coverage has been updated in the past couple years
If you can check all these boxes, Congratulations! You are a “Top 1 Percenter”.
For the unchecked boxes, please stop procrastinating and review these areas! Even if it means giving your advisor a call/email to schedule a quick telephone or in-person review. It’s that easy.
Now go have a financial worry-free summer!
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