Time for your check-up!

Welcome to the New Year!

It's full of hope, wonder, and resolutions..at least out of the New Year Gate anyway. Wonder wains, hope hopefully lasts but usually resolutions fade. One thing that everyone out there in TV land should seriously consider, whether you think you are financially healthy or not, is a financial physical. For all of those do-it-yourselfers out there you'll probably see this blog and scoff thinking that your Bank/Broker proprietary graphs and trend lines are all you need to stay on course but I urge everyone, the DIY's especially, to get a first or second opinion.

Allow me to explain. When I say check-up I don't just mean an evaluation of your savings or how much any current investments have or have not yielded. This should be the time of year where people reassess goals or set goals for the first time for that matter. Regardless of where markets are, because they will always change, it's important that any plan that you have stays consistent and held to a certain amount of accountability. Most importantly like in any business it's important to find out what hasn't worked, and again I don't mean that you made a bad bet in the markets, assess why and make the changes accordingly. Everyone has reasons why the things they plan don't work out and I'll be the first one to tell you what I've planned that hasn't worked out for me but it's not for lack of good intent or thoughtfulness it's because of lack of follow through and a system.

If rebalancing a portfolio is something that is on that list then now is the time to do something about it, especially as tax time silently creeps up on everyone. Maybe getting more serious about your savings or starting to save. A good doctor doesn't just check your heart beat and blood pressure and send you on your way. He talks to you to try to get a handle on all the things going on in your life so that he can best diagnose and treat should he find something that's off. Investments and savings are great but they aren't the only measures of success. While reading this you should be thinking about how your debts are being handled, how the retirement plan at work going, and how protected i.e. life insurance is your family should anything happen to you if your the breadwinner (and even if your not). A good financial check up will take all these things into consideration and a good plan will incorporate many levels of success.

Now there isn't anything in here that's revolutionary or an idea that someone hasn't already thought of but that's the point. Things worth saying should be repeated until those listening finally get the message and act. Even if you think that nothing in here is worth your time or applies to you I urge you to just take a few minutes and reflect. I'm sure everyone has things they wish they did better and if you find something do something about it. Write it down and track it, add accountability.

As always feed back is appreciated and hopefully this little New Year Note added to a few guilty consciences and someone acts.

Thanks!