Time to review your finances

Calendar Planner

It’s hard to believe that it’s already June; how quickly 2016 is passing by. The remnants of winter have given way to the warmer, sunnier days of spring, and the long, hot, school-free days of summer aren’t far behind. And before we know it, class will be back in session and tree leaves will don their autumnal reds and oranges.

The future seems so far away yet time moves swiftly. And in-between the present and the future, so much changes so rapidly. It’s June now: what’s changed in your life since January? What’s changed since January 2015? Since 2014? As your life changes, so do your needs, and it’s important to review your financial plans to make sure they are still adequate. Similarly, our financial decisions today will have an impact on our finances tomorrow. So while we enjoy the springs and summers of life, it’s important that we prepare for the autumns and winters.

So ask yourself: does your budget still make sense? Do you need to update your will? What about the beneficiaries of your financial accounts? Are you still supporting your favorite ministries as much as you’d like? Are you saving enough for retirement? Are you withdrawing too little from your retirement accounts? Too much? Does your portfolio need to be rebalanced? Do you still have the time, energy, and focus to manage your finances on your own?

Answering these questions now will help you prepare for that fast-approaching future. So ask yourself these questions regularly and adjust your financial plans as needed to stay on track to meet your goals.

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