Here are a few of the most common issues that we find folks usually put off, procrastinate on or try to avoid:
- 401k Accounts- When is the last time I looked at our 401k portfolio? Is it properly balanced for our investment objectives and risk tolerance? Are we taking advantage of matching contributions?
- Long Term Care- Have we considered how a long-term care health event for myself, spouse and other family members would impact us financially?
- Retirement Planning- Having a sound retirement cash flow strategy. How much will we need to live on? What sources besides Social Security will we have for income? Do we really understand how much of a nest egg we have to save to maintain the lifestyle to what we’ve come accustomed?
- Estate Planning- When was the last time we had our estate plan and will updated? Do we even have one? If something happened to either spouse, would they be prepared?
- Passwords- If something happened to me, would my spouse and family have access to critical log-ins for our accounts?
- Savings- Do we wait to save what’s left at the end of each month (not much) or deposit savings amounts first?
Because many of the clients we serve do not have the time or inclination to address these on their own, we often provide proactive accountability or asking permission to be a pest or friendly nagger to keep them moving to get these things checked off their list. How are you doing?