As 2016 quickly becomes a fading memory, are there some things that stick out in your mind from the past year? Like that $1.5 billion Powerball jackpot (a U.S. record) that you thought for sure you would win last January? Or U.S. stocks reaching all-time highs this past month – which is like winning the lottery for your 401k?
Hopefully this past year opened your eyes to some financial insights that could be of benefit in 2017 and beyond. And if you could use some more, it’s your lucky day! Over the next several weeks, we’ll offer several tips to help get you on track. Here’s a sampling:
- Set realistic and achievable short term and long-term financial goals.
- Maximize your tax return.
- Check your credit reports.
- Keep your finances safe in the cyber world.
- Plan ahead financially for a summer vacation.
- Study your spending habits over a week or month, and then decide which are good and which are bad.
- Devise and implement a plan to ditch those habits that are bad.
- Draw up a personal financial statement – assets vs. liabilities.
- Assess and, if necessary, alter your retirement portfolio to make it more profitable.
- Review your insurance coverages and make changes where necessary.
We hope these will help you get started off on the right foot in 2017. And even though you didn’t win the “big one” in 2016, maybe your Powerball luck will change in the New Year!