Financial Planning Dos & Don’ts
During these uncertain economic times, financial planning has become a challenge. Here are a few financial planning suggestions that can add to your peace of mind about financial matters and simplify your life:
- At least once a year, write down your investment goals and what strategy you will use to reach them. This will keep you focused.
- Instead of giving money to many different charities, pick a few that are important to you, and give them a larger amount. This type of directed giving not only makes more sense, but also makes it easier to track your donations at tax time.
- Inventory your household possessions, optimally with a camera or camcorder. Keep the inventory at work or in a safe-deposit box. This inventory will help should you need to submit a homeowner’s insurance claim.
- Use one insurance agent and one financial advisor for your transactions.
- If you have doubts about entering into a transaction, don’t do it. You will probably save yourself money, time, and aggravation.