A Financial Planning Checklist
- Have you determined your short- and long-term financial goals?
- Are you saving and investing sufficient sums to fund your short- and long-term goals?
- Are you making the best use of tax-deferred savings plans, such as IRAs, 401(k)s, and Keoghs?
- If you are an employee, are you optimizing your employee benefits?
- If you are concerned about paying for a child's education, are you saving and spending in the most appropriate ways?
- Do you have an "emergency fund."
- Have you checked the asset allocation of your (investment) portfolio lately?
- Do you have adequate insurance?
- Do you have appropriate legal documents in place?
- Is your credit under good control?
- Are you maximizing your cash flow through income tax strategies?
- If you own your own business, do you have a plan for smoothly passing on that business to family members or trusted employees?
- Have there been significant changes in your family this year?
If any of these questions raise concerns for you, you may wish to consult
with your tax and financial adviser.