Your 2025 Financial Checkup
“You can have excuses or you can have success; you can’t have both.”
January has already come and gone. I saw a cartoon recently, and it really resonated with me. Before you know it, the year will fly by and we’ll be doing it all over again.
The beginning of a new year presents a golden opportunity to take stock of your financial well-being and ensure your financial plan is aligned with your aspirations. For some of us in Los Angeles, January flew by as we witnessed the devastations from the recent fires. For others in other parts of the US, they were experiencing freezing temperatures and just trying to stay warm.
As we slowly glide into February, it’s a great time to assess your progress towards your financial goals, evaluate the suitability of your insurance coverage and risk tolerance in light of your current circumstances, and proactively organize your financial information for a seamless tax season experience.
Remember, even minor adjustments made annually can yield substantial long-term benefits. Therefore, it's crucial to periodically revisit and fine-tune your financial plan.
When reviewing your current circumstances and goals in order to make impactful improvements in 2025, consider the following questions:
Have you identified new goals for this year or the future?
Do you expect your household income and/or expenses to change materially this year?
Do you need to confirm that you are adequately saving toward your goals?
Do you need to adjust or replenish your emergency fund?
Do you need to rebalance your investment portfolio or otherwise adjust your asset allocation?
Are there debts that you would like to eliminate this year?
Do you need to collect tax forms and organize other documents in preparation for filing income tax returns for last year?
Do you own investments in taxable accounts that are likely to make capital gains or income distributions?
Do you expect any changes with regard to your health or medical treatments?
Have you made any improvements to your property or acquired new valuables?
Do you need to review your estate plan?
Have any new laws gone into effect that might impact your financial plan?
To make things easier, I've prepared a comprehensive checklist that includes these questions as well as others that will help you identify areas you should explore further. You can download the 2025 Guide here or click on the image below.
Click the image above to download the free guide
Action Items
Please take a moment to download and review the 2025 Guide. Go through it and mark “Yes” or “No”, so you know exactly where to spend your time.
By proactively addressing these key areas and collaborating with a financial planner, you can create a robust financial plan that empowers you to navigate life's uncertainties with confidence and achieve your financial dreams.
As always, you can reach out to me if you have any questions or would like to schedule a time to chat.
I look forward to helping you through your financial journey!
~Alex
Whenever you’re ready, there are 3 ways I can help you!
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