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Dianne Williams Wildt, MBA

Certified Retirement Counselor®

Since 1983 in the financial services and investment industry

 

Retirement Pathways, Inc.

4500 Bowling Blvd., Suite 100

Louisville, KY 40207

 

Phone:  502-797-1258

 

Email: dianne@retirementpathways.com

Website: www.retirementpathways.com

January/February 2023

Are Your Finances Ready for the New Year?

Beginning and start of the new year 2023. Preparation for happy new year ,new life, new business, plan, goals, strategy concept. Hand flips wooden cubes with  2022 to 2023 on smart background.

If you’re not sure whether your financial strategy is as comprehensive as it could be, a checklist and your financial professional can help. Get a fresh start in the new year by reviewing the items on the list to see if you’re on track.


  • List your assets, including investments, savings, retirement accounts, real estate, college funds, and other valuables. Then list liabilities, such as your mortgage; student, personal and car loans; and credit card debt to see the big picture.

  • Revisit your budget. If it’s stretched thin every month, look for ways to reduce costs. Cable and streaming services, cell phone plans, and dining and entertainment are good places to start.

  • Save money in an emergency fund to cover living expenses for three months to a year.

  • Come up with a plan to pay off debt, especially high-interest credit cards.

  • Check your credit score and credit reports from the three major credit reporting bureaus: TransUnion, Equifax, and Experian. Accessing one report now and the other two at different times during the year can keep you on top of any changes.

  • Review your investments and rebalance your portfolio if your asset allocation or your risk tolerance has changed.

  • Estimate retirement income needs. Contribute the maximum to an employer’s retirement plan, or at least enough to receive any employer matching funds. No plan at work? Consider opening a traditional or Roth individual retirement account.

  • Save for college with the guidance of your financial professional. Starting early and saving consistently is best.

  • Check your estate planning documents. At a minimum, you need a will; durable powers of attorney for health care and finances; and a health care proxy specifying your treatment preferences.

  • Review your insurance coverage. Protection for yourself and your family might include life, disability, auto, homeowners/renters, long-term care, and umbrella policies.

  • Schedule a meeting with your financial professional to discuss any concerns.


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Investment advisory services offered through American Capital Management, Inc., a State Registered Investment Advisor. Retirement Pathways, Inc. is independent of American Capital Management, Inc.
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