July 2024 Newsletter

JULY 2024 NEWSLETTER

As you enjoy your summer, keep in mind that mid-year is the perfect time to address your finances and ensure that your retirement is on track. So, before you hit the beach or the mountains, take an hour or two and take a look at your financial picture.

Double-Check Your 401(k)

Are you maxing out your 401(k) and ensuring that you get any employer contributions?

Look At Your Cash

If you’ve got emergency funds (good job). We recommend anywhere from 3 - 9 months for expenses.

Assess Your Debt

Take a look at your credit and debt situation, and if you’re slipping in this area, now is your wake-up call. Take control here if you need to, and plan for the last half of the year to take control of your debt.

Tax Planning

Mid-year is a great time to plan for your taxes, as you still have the last half of the year to make adjustments and strategize with your accountant.

Check In With Your Investments

While we look at your investments on a daily basis, it is always important to review your portfolio so we can assess your risk tolerance again to see if anything has changed. If you missed your 6-month review when Holly called, please call to schedule one.

Review Your Insurance Policies

Are you adequately covered by your insurance policies, and do you have the correct beneficiaries? Do an audit with your agent and make sure that you have the right amount and types of insurance for your needs.

Go Over Your Budget

If you don’t budget, now may be a good time to start. If you do budget, take a bit of time to review it and make sure you’re not missing anything that may hinder your financial goals.

On a personal note, the kids are enjoying the summer. After a good 2 months off, Nick is back in the gym and on the ice. He is laser focused and wants to be ready to start his Division 1 college career. He is enjoying his time with his girlfriend and his buddies at the beach and at the pool. Lexi is doing the same, she’s going to the beach and hanging out at the pool with her girlfriends. She is still working at the Lovell Arena, which she loves. She has made her complete list of colleges that she will be applying to. I am so excited to see which school she chooses.

This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal.