How to Assess and Declutter Your Financial Plan
- Review Retirement Accounts Take a fresh look at your 401(k), IRA, and other retirement accounts. Are you contributing enough to meet your goals? Are your investments aligned with your risk tolerance and time horizon? Rebalancing your portfolio can help ensure your money is working efficiently for you.
- Evaluate Investments Spring is a great time to review all your investments. Look for accounts you may have forgotten about, old brokerage accounts, or investments that no longer fit your strategy. If it feels scattered, it may be time to simplify.
- Review Insurance Policies Insurance needs can change over time. Review your life, disability, health, and long-term care insurance to ensure your coverage still meets your family’s needs. Do you have the right amount of protection in place?
- Consolidate and Simplify Accounts The more accounts you have, the harder it is to stay organized. Consider consolidating old retirement accounts or savings accounts that are no longer active. Fewer accounts make it easier to track progress and reduce paperwork.
Steps for Families Balancing Multiple Responsibilities
When you’re managing the needs of both children and aging parents, your own financial priorities can easily get pushed aside. Spring cleaning is the perfect opportunity to:
- Revisit education savings plans and ensure you’re on track for college funding.
- Check in on parents’ financial health and ensure they have updated estate plans and proper insurance coverage.
- Review your own estate plan — wills, trusts, powers of attorney, and health care directives.
- Schedule time with a financial advisor who can help you balance competing priorities and create a clear action plan.
Why Spring Is the Perfect Time for a Family Financial Check-Up
Spring represents fresh starts, making it an ideal time to pause and reflect on your family’s financial health. Life moves fast, and what worked last year might not work this year. Tax season has just ended, so you likely have a clear picture of your income and expenses. It’s a natural time to:
- Assess where you are.
- Clean up what’s cluttered.
- Update your goals.
- Refocus on protecting and growing your wealth.
Don’t Go It Alone
Decluttering your financial life doesn’t have to feel like a chore. In fact, it’s one of the most empowering things you can do for yourself and your family. Working with a financial advisor can help you:
- Organize and simplify your accounts.
- Clarify your priorities.
- Create an actionable plan.
- Feel confident about the future.
We understand the pressure of balancing multiple responsibilities while planning for your future. That’s why we’re here to help you sort through the clutter and make sure every part of your financial plan is working for you.
Ready to Start Your Financial Spring Cleaning?
If you’ve been meaning to get organized but keep putting it off, now’s the time. A little effort now can save you stress later and help protect your wealth for generations to come.
Let’s tackle it together — because when your finances are in order, everything else feels a little lighter.
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