2020 is here and are you keeping up with your new year resolutions? Every new year, millions of Americans make resolutions, but by February, they are long forgotten. This doesn’t have to be the case. Improving your diet and exercising more are great for your physical health, but what about your financial health? Financial planning is important so you know where you are and where you want to go.
What are some important financial resolutions for seniors? Let’s look at some top tips so that you can stick with your 2020 financial goals.
It can be overwhelming when you’re trying to plan out your financial goals, but it is essential to successful retirement planning.
Main financial resolution focuses should include:
As with any lifestyle change, wanting to better yourself and making big changes is easier said than done. The problem that most people have when sticking to their resolutions is that they make drastic changes—and often many of them—and become overwhelmed. While sometimes you need a good lifestyle overhaul, the truth is that making smaller goals will bring you more success in the long-run.
Where to begin? Start with these three steps:
Focusing your 2020 new year resolutions on retirement is a great way to set you up for financial success. Here is a list of guidelines to keep your retirement planning on track.
What are your financial goals and how are you going to reach them? When it comes to financial resolutions, making one large goal with multiple smaller goals will get you where you need to be. Something actionable that you can do now is to find a fiduciary advisor.
Fiduciary advisors build a relationship with their clients that is based on trust because they must act in the best interest of their clients. You won’t have to worry if they are going to make high-risk investments on your behalf, because if you lose, they lose. With investments being key to successful retirement planning, a fiduciary advisor is the way to go.
Not all financial advisors are fiduciary advisors, though it is in your best interest to find one. Here are some questions to ask so you can be prepared.
Once you find a fiduciary advisor that you feel comfortable with, they will help set you up with a plan so that you can meet your financial goals for 2020 and beyond.
Related Articles:
With our trusted network of advisors, we’ll connect you with up to three established planners in your area.
With our trusted network of advisors, we’ll connect you with up to three established planners in your area.
The most reputable financial advisors for seniors are the ones who are not only knowledgeable and qualified about retirement planning and after-retirement financial strategizing, but also the ones you can trust. Learn 5 things to consider to help you find a financial advisor right for you.
Read MoreInvestment Management
Learn 7 steps to help you find the best financial advisor for you. From understanding the different financial service offerings to verifying credentials and understanding the compensation; learn how to find a financial advisor you can trust with your money.
Read MoreResources
Many Americans have wondered whether their financial advisor is a fiduciary as the investment world is plagued with conflicts of interest, obscure disclosure and an overall lack of transparency. A financial advisor who will act as your fiduciary can help eliminate many problems. Learn more.
Read MoreInvestment Management