Financial Planning Dos & Don’ts

During times of economic turmoil, planning for your financial future can be a challenge. With that in mind here are some suggestions that offer you peace of mind and also simplify your life.

  • At least once a year, write down your investment goals and what strategies you will use to achieve them. Writing it down will help keep you focused.
  • Instead of giving money to several different charities, pick one or two that are important to you, and give a larger amount of money to each one. This type of directed giving not only makes more sense, but also makes it easier to track your donations at tax time.
  • Inventory your household possessions. the best way to do this is to make a list and then document your possessions using a camera or video camcorder. Keep your inventory in a safe place such as a safe-deposit box. An inventory will help you in the event you need to submit a claim to your insurance company.
  • Use one insurance agent and one financial advisor for your transactions.
  • If you have doubts about entering into a transaction, don't do it. You will probably save yourself money, time, and aggravation.