Financial Watch
For most of the country, October marks a seasonal turning point. As temperatures cool and the leaves begin to drop we’re reminded that life, like the seasons, continues to change whether we’re paying attention or not. Children grow. The markets ebb and flow. The holidays come and go. October also happens to be National Financial Planning month, which makes it a great time to put a plan in place or review your existing plan to ensure any major changes you’ve experienced over the course of the year are reflected in your planning. It’s hard to overstate the role that change plays in the planning process. That’s because financial planning is not a ‘one-and-done’ proposition. Think of your plan as an interactive roadmap to the future you desire for yourself and your family. Like life, your plan will need to accommodate twists and turns along the way and reflect your changing goals and priorities as you move through life. That’s why it’s critical to review your plan at least annually to make sure you’re still on track and share any important changes that may help you get where you’re going faster—like a promotion, bonus or inheritance. It’s equally important to share circumstances that might throw you off course—such as the need to care for an aging parent, an unanticipated job change or an unexpected medical bill. Each milestone in life should also trigger a review of your financial plan, such as:
These are all important inflection points in life that require re-assessing goals and priorities and the strategies that support them. Your strategy is also impacted by the financial market, economic and geopolitical changes over time, making it important to have a disciplined strategy in place for managing risk that’s aligned with your goals and priorities at each stage of your life. The month of October is also a good time to address any year-end planning goals as they relate to tax planning, holiday savings and your investments. Planning now enables you to implement any steps or strategies, such as maximizing contributions to retirement plan accounts or setting additional savings aside for the holidays. Year-end considerations may include:
To learn more about putting a financial plan in place, reviewing your existing plan or obtaining help with year-end investment and tax strategies, call the office to schedule time to talk about your planning needs. Donald Kluge Financial Advisor This communication is designed to provide accurate and authoritative information on the subjects covered. It is not, however, intended to provide specific legal, tax, or other professional advice. For specific professional assistance, the services of an appropriate professional should be sought.
Securities offered through Cetera Financial Specialists LLC (doing insurance business in CA as CFGFS Insurance Agency), member FINRA/SIPC. Advisory services offered through Cetera Investment Advisers LLC. Cetera entities are under separate ownership from any other named entity. |
Donald Kluge