Prioritizing Planning in 2023

Prioritizing Planning in 2023

January 05, 2023
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For many, the start of a New Year is a time for personal reflection, where we consider commitments and goals we strive to achieve over the next year.

This year, why not resolve to make your finances a priority? With proper planning and appropriate guidance, you can begin to build financial stability and prepare for the uncertainties of tomorrow.

One of the best ways to evaluate progress toward pursuing your financial goals is with a quick review of where you are in your planning.  It shouldn’t be a time for second-guessing about the things you did or didn’t do. Instead focus on the experience you’ve gained and how you can help yourself in the long-term. Here are some suggestions on how to make the most of this year and position yourself to move closer to your goals in the new year.

Consider the following steps below, while considering your unique situation:

Get Organized - Gather all your important financial documents – life insurance policies, homeowners’ insurance, wills, trusts, and other pertinent financial records – and organize them so you can access them quickly and easily.

Legal Needs and Changes - Arrange a time to meet with your attorney to review or write your will and establish any necessary trusts. Prior to your meeting, discuss with your spouse or other loved ones how to handle property dispositions and guardian appointments.

Keep Debt in Check - Pay off high interest debt first, especially if the interest is not tax deductible. Do your best to avoid the minimum payment trap.

Review Insurance Coverage - Review your life insurance policies to ensure that your beneficiary designations are appropriate to your current situation and that all arrangements are up to date.

Apply for Scholarships and/or Aid - If you have children planning to attend college next year and require financial aid, remember that financial aid forms are due early in the year. The earlier you apply, the better your chances may be for obtaining aid.

Prepare a Tax Strategy - Begin to gather your tax information and arrange a time to meet with your accountant, if necessary. It is important to file your income taxes on time and to be aware of any tax changes that may affect your return.

Write It All Down - Once you’ve met with your financial, insurance, and tax professionals, write down a few realistic goals that you think are achievable. Make the commitment now to plan your finances accordingly.


Remember that all situations are unique, and that we can work together to evaluate your situation and make sound decisions going forward.

Contact us anytime with any questions about the above and let us know how we can help you or your loved ones.


Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.