Friday, December 2, 2011

Your Financial To Do List Before Year End

  1. Find a financial adviser. Find a qualified professional that is client focused not sales driven. The qualification to look for is the marks of a Certified Financial Planner™. Go to to search for someone in your area. Also, consider how the advisor is compensated. Someone that derives most of their income from selling financial products may not be able to act in your best interest.

  1. Review your credit history. Go to and you can get a free copy of your credit history.

  1. Take of advantage tax deductions. The window for some tax advantages closes at the end of the year. Can you add more to your 401k plan at work? Can you take a deductible loss on an investment? Make a charitable donation?

  1. Rebalance your investments. Take a look at how your investments are performing. It may be time to make sure you aren’t taking on too much risk.

  1. Max out retirement contributions. The annual limit for IRA’s is $5,000 for those under 50 on Dec. 31 and $6,000 for those older. Your tax filing deadline is the time frame for IRA’s, but not your 401(k). You only have until Dec. 31 to contribute the max.

  1. Spend your FSA. If you’ve set aside money in a flexible spending account, it’s gone after Dec. 31.
  2. Budgeting and Cash Flow. Now’s a good time to look at your spending habits versus your projections over the past year.
  3. Get a Will. This is one that you just can’t wait until the last minute. It will be too late!
Financial planning is NOT an event, it’s a process. To contact me call 615-878-2134 or click

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