Take a fresh look at your finances
Experts recommend reviewing your finances at least once a year. Here’s how:
Identify your goals. What are your short and long-term financial goals? Have you made progress toward them this past year? If not, where have you fallen short? Have your goals changed? If so, write down your new goals.
Evaluate life changes. Events such as getting married, having a baby or getting a new job can have a big impact on your finances. Plan ahead to make the transition smoother.
Protect your assets. Review your health, auto and life insurance to ensure you have adequate coverage. And don’t forget long-term disability insurance, which protects your most valuable asset—your earning ability.
Evaluate your investments. Calculate the return on each of your stocks, bonds and mutual funds. Are you satisfied with their performance? Are your assets diversified? Are you taking an appropriate amount of risk based on your age and financial circumstances?
Review your retirement plans. Are you contributing the maximum to your employer’s 401(k) plan or an IRA? If not, start today.
Prepare for the unexpected. Review your will. Does it still reflect your desires? If not, now’s an ideal time to update it. Do you have enough in an emergency savings account?
For financial guidance, contact Mark Kleindienst, Wealth Advisor, CFP, CLU, FIC, RICP at 973-697-3802 or Mark.Kleindienst@Thrivent.com today, or visit thrivent.com.
Thrivent Financial for Lutherans and its respective associates and employees cannot provide legal, accounting, or tax advice or services. Work with your Thrivent Financial representative in collaboration with your attorney and/or tax professional for complete details.
Thrivent Financial representatives are registered representatives for securities offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN 55415, 800-THRIVENT (800-847-4836), a FINRA and SIPC member and a wholly owned subsidiary of Thrivent Financial for Lutherans. Thrivent Financial representatives are registered representatives of Thrivent Investment Management Inc. They are also licensed insurance agents/producers of Thrivent Financial.
Thrivent Financial for Lutherans is a fortune 500 financial services membership organization helping nearly 2.5 million members achieve their financial goals and give back to their communities. This column was prepared by Thrivent Financial's Media Relations Department for use by this representative.