After the Ball Drops | Financial Planning Chapel Hill l Old Peak Financial Advisors

After the Ball Drops

December 18, 2014

Old Peak Finance - After the Ball Drops

After the Ball Drops

December 18, 2014

It’s that time of year again — time to make sincere resolutions that, all too often, we can’t or don’t keep. If you are considering a finance-related resolution, here’s how to make it stick.

First, and most importantly, be selective. Identify the one issue you most want to fix. Possibilities:

  • Figuring out how much you’ll need to retire
  • Improving how your money is invested
  • Reducing your tax bill

Second, make a plan to solve the problem. If the solution is complex, find an adviser you trust.

Third, commit to a specific 2015 goal. If the problem will take more than a year to fix — and the big ones usually do — pick a target that represents meaningful progress. As the Chinese philosopher Lao-tzu famously said, a journey of a thousand miles begins with a single step.

Fourth, when the date comes, hold yourself or your adviser accountable.

This doesn’t sound like rocket science, but success isn’t easy. That’s because finance typically ends us somewhere between a root canal and cleaning the basement on your to-do list. The good news: it’s less painful than a root canal and more rewarding than cleaning. With effort, you can make real progress.

Here’s wishing you a happy and healthy 2015. No doubt we’ll see each other in the gym!

This article is not intended to provide tax, legal, accounting, financial, or professional advice. Readers should seek advice from qualified professionals who can review their specific circumstances. Old Peak Finance endeavors to provide information that is accurate and current. However, we cannot guarantee that this information has not been outdated or otherwise rendered incorrect by new research, legislation, or other changes. Old Peak Finance has no liability or responsibility to any individual or entity with respect to losses or damages caused or alleged to be caused, directly or indirectly, by the information contained on this website.

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