Year-End Financial Checklist

As we approach the end of 2020, now is a great time to revisit your financial planning goals and needs. We have created a checklist that can help you focus on your investment portfolio, assess year-end tax planning opportunities, review your long-term goals, and manage your wealth transfer and legacy plans.

Download our Year-End Financial Checklist here.

Year-end is also an excellent time to review more general financial planning topics with your team of trusted financial professionals. Highlighted below are four personal finance items to consider before ringing in the New Year.

A budget is an important part of a financial plan. It is a summary of income and expenses, which can help you determine the impacts of your purchases. Budgets can also identify unnecessary expenses and can be helpful on the path to financial freedom. Be sure to look back over your 2020 spending and create a budget for the New Year. Remember to account for planned assets, big purchases, and significant sales and/or debt and loan options. Download our free Budget Worksheet to get started.

Credit Report.
As you are likely aware, The Fair Credit Reporting Act requires each of the nationwide credit reporting companies to provide you with a free copy of your credit report once every 12 months. Visit Equifax, Experian, and/or TransUnion to obtain copies of your report. Review your report carefully and look for any inconsistencies or issues that may need to be addressed.

Go over your insurance policy to make sure it meets your coverage needs. If you are unsure about any information on the policy, have questions about fees, or feel that your coverage needs have changed, now is a good time to speak with a licensed professional.

Estate Planning.
Review your wills and/or revocable living trusts to ensure you have the appropriate executors, trustees, and guardians in place. Verify beneficiaries on all of your documents, like insurance policies, IRAs and 401(k)s. Remember to download our free Financial & Estate Planning Organizer to help simplify matters for your family and loved ones, and offer assistance when settling your estate. Consider storing a copy of this completed organizer securely with your estate planning documents.

R.W. Rogé & Company, Inc. helps clients Plan, Achieve, and Live the life they want. To learn more about how we do this, click here. To discuss your financial future with a knowledgeable Senior Wealth Advisor, contact us at 631.218.0077 for a complimentary consultation.

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