CTC tips: perform an annual financial checkup

Piggy Bank-Medical

Doctor appointments, dentist visits, and eye exams. Car tune-ups, tire rotation, and furnace check. Our calendars are full of reminders to check the health of our bodies,  cars, and homes. But something many of us forget to schedule is a financial checkup.

At least once a year, review your personal net worth, tax records, budget, wills, household inventory and other items that make up your financial and legacy plans. Circumstances can change from year to year, so it’s important to assess and update this information regularly.  Keep that yearly appointment with yourself and protect the future for you and your family.

Here are some items to review at least once a year:

  • Personal Net Worth Statement
  • Tax Records
  • Spending Priorities
  • Budget (actual experience)
  • Social Security Earnings Statement
  • Statements on future pension benefits
  • Statements on retirement accounts
  • Statements from bank and investment accounts
  • Payroll statement (sick leave, vacation, etc.) or employment contract
  • Household inventory
  • Insurance needs
  • Credit report/rating
  • Will, powers of attorney for finance and health care
  • Records retention

Since many of these contain personal information, investing in a home shredder can help guard against identity theft when disposing of outdated items.

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