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End Of Year Recap

Let the joyous times begin because in my opinion once Halloween comes we have officially entered the great time of year that many of us call, “the holidays”. The holidays bring out so much cheer and happiness and boy is it ever contagious. Of course the holidays bring along with it different stresses that can at times feel overwhelming but at least there is an overall feeling of giving back and selflessness during this time of year.

While this is one of my favorite times of year it is also a great time to reflect on the past year. I love to reflect on my life and what I have done. Have I accomplished anything? It is a great time to evaluate any goals you may have set for yourself throughout the year. Did you achieve any of your goals? One area in my life that I make sure to prioritize and set goals for is my finances and retirement.  Setting financial goals and retirement goals has really allowed me to feel free as far as my retirement planning and situation goes. I don’t constantly stress about my retirement because I know where I need to be and I know how to get there. This in a way makes me feel free about my retirement.

When I sit and reflect on my past years financial and retirement goals I like to ask myself some questions. Was I able to stick to my retirement plan this past year? If so, is there anything I can improve upon to make it better next year. If I didn’t stick with my retirement plan, why didn’t I? Can I still achieve my goals now before the end of the year? If there is nothing that can be done to achieve those goals this year what can I do to make sure I achieve those goals for next year?

Asking these questions I have found helps keep me stay on track and accountable for my own well-being while in retirement.  

If you do not currently have a retirement plan then now is the great time to figure it out. Time is one of the best things for your retirement. The longer you contribute and execute a retirement plan the more likely you will be to have the retirement you want. If you need help setting up your retirement plan check out –> Set Up Your Retirement Plan

A great thing to do while reflecting on your financial and retirement goals over the past year is to talk with a professional tax attorney or accountant about any things you should do to help you with your taxes for the year or for your taxes on your retirement accounts. It is wise to do everything you can to maximize your tax breaks. It means more money to you in the end and talking with a tax accountant or attorney who knows your situation can greatly increase the amount you have to pay in taxes.

Another wise thing to do while reflecting on your financial and retirement goals is to reflect on your retirement investments. If you don’t know what you are invested in I would suggest you figure it out now! This is your money and your retirement and you should definitely know what you are invested in.

Many people find out they are invested in so many things they don’t even know about and that shouldn’t be the case. You should be invested in things you are ok with and that you want to be invested in. Another thing is that most people tend to be invested heavily in the stock market. While they are diversified in the stock market they are still in the stock market. A wise strategy is to diversify outside of the stock market. Diversifying your retirement account will help to minimize your risk and it can be quite fun to invest in things like gold or even real estate. Heck if you want you can invest in a private placement. The possibilities are endless and up to you. You don’t have to use all of your retirement funds to do it either. In fact it is wise to just use a portion of your retirement funds for investing into non-traditional investments.  How much you decide to invest in the other assets to diversify your account is up to you but regardless it is a very wise idea. If you need more information on investing in non-traditional assets with your retirement account contact us.

Hopefully you can take a minute to reflect on the past year and how things went for you. If you don’t think you have the time I must remind you that you do! You don’t need to watch that another episode on tv nor do you need to spend hours on Facebook or Instagram.  Instead of doing those things just take a minute to reflect and plan because you’ll be surprised at what you can do.

We hope your year has been great and we want next to be even better. This requires your involved effort to make your retirement plan and financial security what you want it to be. Contact us for help investing with your retirement in non-traditional assets. A little effort on your part goes a long way to retire successfully.