2018 Year End Action Steps

December 14, 2018

As 2018 comes to an end and everyone is settling down from the hustle and bustle of the holiday season, the last week of the year is the perfect time (and usual time) to reflect on the previous 12 months and start jotting down some 2019 resolutions.

 How was your 2018?  What worked? What didn’t?  What would you change if given the chance?

Commonly, we automatically think about a successful (or failed) fitness journey….  but what about your financial fitness journey?

At Campbell & Company, Wealth Advisors and CPAs we strongly advocate the importance of prior planning.  We encourage our clients and radio listeners to take time to sit, reflect and plan out their financial roadmap.

Today, we would like to share with you some tips and actions you can take during these last few weeks of 2018 so you can enter 2019 with confidence and most importantly, a plan!

2018 Year End Acton Steps:

  1. Assess your cash flow.  Review that budget…or make one 😊

    1. Did you have to dip into your savings during the year?

    2. Did you tap into and withdraw from your retirement savings account?

    3. Were you able to save and maintain an emergency fund?

    4. Did you end the year with more debt that you started off?

  1. Review your Estate Plan. Where there any major life changes?  Marriage, divorce?

    1. Are your beneficiaries updated and still relevant?

    1. Do you need to make adjustments to your will?

    2. Do you have a Living Power of Attorney in place?

    3. If you have children, are their guardians and trustees still accurate?

  1. Big Picture Goals for 2019

    1. If you are a business owner, are you in growth mode? Are your financial statements updated?  Will you need to apply for loans or business lines of credit?

    2. Did you reach your retirement goals? Are you contributing enough towards a retirement plan?

    3. Where would you like to be in exactly 12 months from now or see happen?

    4. Are you prepared for tax season?

      1. Have you taken advantage of the 2018 Tax Law Changes and have you prepared an income tax projection to avoid tax surprises?

  1. Organize your financial papers

    1. File away/scan old documents

    2. Declutter that work desk or that file cabinet drawer that everything gets thrown into.

    3. If you have elderly parents, have you had a family discussion about their wishes and where to find important paperwork after their passing or health declines. If you are the elderly parent, have you relayed that information to your loved ones.

  1. Make an appointment to reach out to financial planner.

    1. Seek professional advice regarding your portfolio, risk tolerance.

    2. Does your current portfolio match your risk tolerance?

At Campbell & Company, we have a fiduciary responsibility to guide you.  Let us offer you an added piece of mind as you enter this new year.

 

Happy Holidays from all of us here at Campbell & Company and may 2019 be filled with what matters most to you! –

Monica L Haberlin

Managing Partner, Trinity, FL

 

Campbell & Company, Wealth Advisors & Certified Public Accountants

8221 State Rd 54

Trinity, FL 34655

 

Investment Advisory Services offered through Retirement Wealth Advisors Inc. (RWA) a Registered Investment Advisor. Campbell and Company and RWA are not affiliated. Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Consult your financial professional before making any investment decision. This information is designed to provide general information on the subjects covered, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Jackie Campbell, CPA and Campbell and Company are able to provide tax services. However, you are not obligated to work with Campbell and Company and Jackie Campbell, CPA for any tax services. You are encouraged to consult your tax advisor or attorney.

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