INDUSTRY INSIGHT
FINANCIAL STRATEGY
SPONSORED CONTENT
Six sound
moves for
a fiscally
fit future.
T
here’s no time like the present to
reassess your financial goals. It’s the
financial decisions you make today
that can really make a difference
come retirement time. Here are six worth
implementing:
GET ORGANIZED. Knowing where your
receipts, investment statements and tax
returns are is an essential component of
your financial plan. Setting up a system now
will keep you organized throughout the
year. Create separate folders for all of your
tax-deductible expenses, your banking and
investment statements, insurance claims and
pay stubs/W2s. This one simple step will help
get your financial goals off to a good start.
MAKE COPIES OF IMPORTANT DOCUMENTS. In an
emergency, you may need to quickly locate
critical records such as insurance policies,
bank account and credit card numbers.
Compile a comprehensive list with account
information and contact numbers for all
important accounts. Also make copies of
deeds to property, stock and investment
statements and other valuable holdings. Put
everything in a safe place in your home and
keep a copy in a location away from home,
such as in a safety deposit box.
START A PLAN FOR GETTING OUT OF DEBT. It
could be a daunting way to start the year, but
there is no better time than now for a financial
reality check. Write down your credit card
balances, the interest rates being charged and
the minimum monthly payments. Figure out
which cards (those with the highest rates) to
pay off first. There are many good books on
0296227-00001-00, Ed 09/02/2016, Exp 09/02/2018
the subject, and depending on how much
debt you have, you may want to meet with
a financial advisor to develop a specific pay
down plan.
REVIEW YOUR 401(K) PLAN. Or sign up, if you
haven’t already done so and your company
offers a retirement plan. Many employers offer
matching funds – sometimes as much as 50%
of your contributions and up to 6% of your
salary. That’s free money! If you are already
in a plan, now is a good time to review your
allocations for the past year to see if you need
to make adjustments.
CHECK YOUR INSURANCE COVERAGE. Did you
make home improvements this year? Have a
baby? Change jobs? You may want to make
changes to your insurance policies to make
sure you are adequately covered. If you or
your spouse have neglected to purchase life,
long-term care or disability income insurance,
now is the time to meet with a qualified
professional to discuss the benefits of these
important financial safeguards.
REVIEW YOUR ESTATE PLAN. While not
something most people look forward to
doing, documenting your wishes in the event
of your death is essential. If you have not done
so already, make plans to draw up a durable
power of attorney for health care and finances
and a livin g will. These simple steps can help
protect your assets and loved ones should the
unthinkable happen.
Getting your financial house in order
takes more than just writing down a list of
resolutions. It takes discipline and planning.
But having clearly identified goals and taking
consistent steps towards them will help you
make great strides toward meeting your
financial goals.
Life insurance is issued by The Prudential
Insurance Company of America, Newark, NJ.
and its affiliates. Availability of other products
varies by carrier and state.
SHANNON RHEA offers insurance and securities products and
services as a Registered Representative of Pruco Securities, LLC
(Pruco). The Prudential Insurance Company of America, Newark,
NJ and Pruco are Prudential Financial companies. 1.800.201.6690.
Shannon Rhea, MBA
5000 Stonewood Drive Suite 210 • Wexford, PA 15090
Office: 724.799.2872 • Cell: 724.766.0714
[email protected]
This advertisement provided courtesy of Prudential. For more information,
contact Shannon Rhea, MBA, is a Financial Professional with The
Prudential Insurance Company of America’s Keystone Mountain
Financial agency located in Pittsburgh, PA. Shannon Rhea can be
reached at [email protected] and 724.940.2440. Offering
securities products and services as a Registered Representative of Pruco
Securities, LLC (Pruco). The Prudential Insurance Company of America,
Newark, NJ and Pruco are Prudential Financial companies.
1.800.201.6690.
Cranberry | Winter 2017 | icmags.com 15