A financial check list

• Contribute the maximum you’re permitted to your retirement account at work, even if your employer does not match your contributions.
• Have cash reserves appropriate for your situation -- anywhere from three months to five years - talk to your financial adviser about the appropriate amount.
• Pay off all your credit card balances, pay all new credit card bills in full monthly.
• Consolidate your investments (both taxable and retirement accounts) into one diversified portfolio. This simplifies record keeping and tax reporting, helps you generate consistent monthly income when needed, lowers costs through economies of scale and makes life easier for your beneficiaries.
• Change your investment and bank account registrations to conform with the estate planning advice provided by your estate attorney and financial adviser.
• Tell your spouse and adult children where you keep your financial papers. Give them the business cards of your planner, attorney, and accountant.
• Obtain long-term care, disability, liability, and life insurance policies.
• Change your will, trust, IRA, retirement plan, annuity and life insurance policies so that the correct beneficiary designations have been made.
• Obtain a will, power of attorney, medical directives and trusts.
• If you’ve put off any of these items, tend to them now. If you have any questions about how to best accomplish these tasks, contact your planner. He or she should be delighted to help you fully implement your financial plan.