Checklist: What Issues Should I Consider at the Start of the Year?

The start of a new year is a great time for a financial check-up and to consider the various factors influencing your financial planning. In addition to reflecting on the prior year, many are motivated in January to consider making financial resolutions for the future.

To help uncover areas of consideration and move toward impactful improvements, we are offering this checklist. It covers fundamental considerations, including:

  • Personal issues
  • Cash flow issues
  • Asset and debt issues
  • Tax issues
  • Insurance issues
  • Legal issues

This can help you get started looking at your progress toward your goals, consider any new goals you may want to set for yourself, evaluate your insurance coverages to make sure your risks are minimized, revisit your assets and debt, and evaluate whether your risk tolerance continues to be appropriate.

Sometimes the incremental changes that occur year-to-year may not seem like a big deal. In reality, though, they can add up.

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Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this content, will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for you or your portfolio. Due to various factors, including changing market conditions, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter (article) serves as the receipt of, or as a substitute for, personalized investment advice from Searcy Financial Services, Inc.

The content of this letter does not constitute a tax or legal opinion. Always consult with a competent professional service provider for advice on tax or legal matters specific to your situation. To the extent that a reader has any questions regarding the applicability of any specific issue discussed in this content, he/she is encouraged to consult with the professional advisor of his/her choosing.  

Published for the blog on January 13, 2023 by Searcy Financial Services, your Overland Park, Kansas Fee-Only Financial Planner and Investment Manager.