Time for a Financial Checkup

With the season changing and life ever pulling us forward, you may want to take into account life changes that may affect your financial goals.

Account for Changes in Your Personal Life

Have there been any changes this past year with your family, personal, or financial life?

If life changes have occurred, you may want to conduct the following:

  • A beneficiary designation review (qualified plans, IRAs, life insurance, etc.)
  • Reviewing the titling of assets (bank accounts, brokerage accounts, property, etc.)
  • Update estate planning documents (wills, trusts, power of attorney, guardianship, etc.)
  • Update insurance coverage (life, health, long-term care, disability, etc.)

Prepare for the Unexpected

It’s highly recommended to have an emergency fund that can cover your expenses for at least three to six months. These assets can be cash, a savings account, a money market fund, or other assets that can be accessed quickly.

Updating Your Goals

Review the following list to see what adjustments may need to be made:

  • Have your long-term savings goals changed (e.g., target retirement income, target retirement date)?
  • Have your intermediate-term savings goals changed (e.g., vacation home, college savings, etc.)?
  • Has your ability to save changed (e.g., change in income or expenses)?
  • Have you set any new financial goals?

Goal-Set for Success

If you want to be more successful in reaching your goals, you might consider a different approach in setting them. For some meaningful ways to set yourself up for success in the new year, check out the great tips shared in this article – A New Way to Set New Year’s Resolutions.

Representatives offer products and services using the following business names: Summit Group of Virginia LLP – insurance and financial services | Ameritas Investment Company, LLC (AIC), Member FINRA/SIPC – securities and investments | The Ascent Group, LLC – investment advisory services. AIC is not affiliated with Summit Group of Virginia LLP, The Ascent Group, LLC, or any other entity mentioned herein. Products and services are limited to residents of states where the representatives are registered. This is not an offer of securities in any jurisdiction, nor is it specifically directed to a resident of any jurisdiction. As with any security, request a prospectus from your representative. Read it carefully before you invest or send money. A representative will contact you to provide requested information. Representatives of AIC do not provide tax or legal advice. Please consult your tax advisor or attorney regarding your situation.

You are now leaving Summit Group 401(k) Consulting

Summit Group 401(k) Consulting provides links to web sites of other organizations in order to provide visitors with certain information. A link does not constitute an endorsement of content, viewpoint, policies, products or services of that web site. Once you link to another web site not maintained by Summit Group 401(k) Consulting, you are subject to the terms and conditions of that web site, including but not limited to its privacy policy.

You will be redirected to

Click the link above to continue or CANCEL