Welcome to my Blog!!!
As a cornerstone to my practice, I've found financial literacy is crucial to the successful achievement of my clients' goals. I will be educating and covering topics that I feel are important such as building & preserving wealth efficiently, taxation, investing, retirement, charitable giving, global economy, and the markets. I'm passionate about Socially Responsible Investing, Ethical Investing, Innovation and traveling which I will also cover. Hope you enjoy the topics and find it insightful!
As the year is coming to an end the question to ask is to have you accomplished any of your resolutions you set out at the start of the year? The most popular one on people's list is improving your health — lose weight, exercise and eat healthier. So have you lost the extra 10 to 12 pounds?
However, in addition to improving your physical health, you can resolve to make next year your healthiest financial year ever by focusing on the fundamentals. I will provide you with a list of 10 financial to-do’s, so you can start to check off all 10 items on the list and improve your financial health. This list is not exhaustive and there can be different lists for each person, but here is a list of some of the most common or important things to consider.
Your financial to-do list
The following is a list of 10 financial to-do’s (in no particular order) that you should look at.
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Make sure your Will and Power of Attorney are up-to-date.
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Put family income-splitting structures in place to help minimize taxes.
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Have an emergency fund - usually 3 to 6 months of your monthly expenses.
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Manage your debt wisely - start with paying off bad debt first.
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Check to see that your asset allocation is up-to-date and works to meet your investment objectives and goals.
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Look at Risk Management solutions.
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Make sure your account structures and beneficiary designations are up-to-date and appropriate.
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Give back — consider donating, both your money and time. (if you can)
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Look at doing a personalized financial review.
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Prepare a financial plan or retirement projection.
Successful people tend to work off to do lists with a strong determination to complete each item on the list. Make a game plan and go through this list with a commitment to completing all 10 items by the end of next year.
Over the next coming months, I will be covering each item individually. I would be glad to go over the list with you and get you started on accomplishing your financial goals.
Did I miss anything here? Let me know in the comments and I’ll add it in!
Thank you for reading my blog and feel free to share.
Sameer