How Well Have You Progressed Through the Top Financial Steps of 2018?

by | Jun 11, 2018 | Financial Planning

Home/Financial Planning/

How Well Have You Progressed Through the Top Financial Steps of 2018?

Financial steps to take mid way through 2018 - How Well Have You Progressed Through the Top Financial Steps of 2018?

With 2018 in full steam and the half-year mark approaching quickly, it’s time to look back at the top financial steps of 2018, and see how well you have progressed in these essential areas…

Contributions to Retirement Plan

Have you made adequate contributions to your 401(k)?

A review of your retirement plan will tell you if you’re missing out on opportunities to fully benefit from tax-deferred growth and see if you’re ahead or behind on your contributions.

Savings Through Technology

Are you making full use of technology to boost your savings?

From desktop programs to apps, there are countless new technological innovations that can help you to save money and automate spending plans. With more tech being brought-out continuously, it’s time to check your progress and see if there is a better piece of tech out there for you.

Beneficiary Changes

Does your will reflect any new additions or changes to your family situation?

A key financial step of 2018 is to review your will, life insurance, IRA’s, and bank accounts, to account for changes to your family and any new beneficiaries.

Strategies for Tax

Have you made full use of the tax opportunities and deductions available?

Using opportunities to accelerate tax deductions is a key financial step of 2018, helping you to save more on your tax bill by planning items that hold an influence over your tax for the right time. For all individuals expecting a change to their tax bracket, this is something that it can certainly pay to prioritize.

Fund Use

Are you using your flexible spending account?

Stay on track of the fund-use deadlines and make sure that you make full use of the funds you have in the current year to purchase the essentials.

Investment Combinations

Do your investments still reflect your primary goals and take into account current risks?

A good start to the year may have changed the value of bonds, holdings, or stocks that your own. If you haven’t checked your investment combinations already this year, there is no better time to check and rebalance if needed.

Budget Shape-Ups

Are you sticking to your budget for the year?

To plan for fixed expenditures and account for emergencies, having a set budget in place is an essential. If you’ve fallen behind on your new-year budget, then it might be time to reassess and design a new budget for the remainder of 2018.

Enrolment in Health Insurance

Does your health insurance meet your needs?

The right health insurance coverage for your needs is important, as is taking opportunities offered in open-enrollment periods. If you didn’t review your coverage plan at the start of the year, the time has come to save money and get better coverage, by reassessing your health insurance.

Goal Planning

Have you met your mid-year goals?

The setting of short and long-term goals was a major part of pre-2018 financial prep. These can help you to plan ahead and get a better understanding of where your finances should be at different stages of the year.

Insurance Coverage

Does your insurance still cover you for the essentials?

Reviewing your personal insurance coverage is vital in making sure that you’re getting the best back from your insurance, and importantly, that you’re fully covered for home insurance, auto insurance, liability insurance, and every other area that keeps you protected. If you have extra features you don’t need, or you think you’re paying more, it can pay to review, change, and shop around.

Need help with your insurance cover, changing your life insurance beneficiaries, or understanding how you can get the most back from your health or business insurance? Don’t delay in asking us for help with insurance today and get more from your personal insurance.

Pin It on Pinterest

Share This