Some Painless 2012 Resolution Suggestions

As we stare at the New Year before us, we all make promises of self-improvement.  Whether it's shedding some extra baggage or dropping a bad habit or two, we go through this exercise every December. I'd like to give you a few other less painful resolution ideas that can help your financial health for 2012:

1.   Make sure your will is up to date with the correct healthcare power of attorney, beneficiary designations, estate executors and trustees.

Having gone through the process in 2011, it was amazing how much had changed in 10 years and how out of date our will was. It is a very painless process and insures that what you want happens when you want and for whom you desire.

2.   Make sure that your children know where all your important documents are with the correct contact info.  Important items like life insurance, investment accounts, wills, long term care insurance, pension, annuities, and bank statements should all be considered.

Make a list of all of these items; centralize their whereabouts and the contact data.  Sit down with your kids or child you feel the most responsible and discuss all of this and give them a copy of your list.

For help with this, go to our website,, to request our two publications.   1.  Our “Prepare for Emergencies” checklist – a way to centralize all your important contact information and data and  2.  Our “Executor Checklist” – a comprehensive checklist of questions to ask, and things to be prepared if you are to be executor of an estate.  Both items can be requested under the “Media Center” on our website.

3.   In these times of financial tumult, make sure your portfolio is meeting your objectives.  Make sure that your advisor has designed a portfolio that is meeting all of your needs taking into consideration your risk tolerance, time horizon and potential income needs.

In these times, he or she should be proactive making portfolio moves that are prudent as the situation changes. Make sure you know the answer to questions like 'what will be done if Europe continues on its ruinous course with no solution?'; 'what will be done if we have the slow US economic expected in 2012?' or 'what is being done to take advantage of the hand the markets have dealt us now?'

We let our clients know our thoughts and have made moves accordingly.  Your advisor should too and if not, call or email us for a free financial check-up in 2012.