Your Annual Report - Old Peak Finance

Your Annual Report

November 20, 2016

long-term-short-term

Your Annual Report

November 20, 2016

The most important financial goals are long-term. We are all wired to think short-term. How do you square this circle?

The solution: Prepare an annual report, just as a company would.

Your annual report should have these key items:

  1. Reminder of your long-term goals: spending in retirement, affording college for your children, etc.
  2. Progress made over the past year toward these goals
  3. "To-do list" for the year ahead

Your annual report should have financial information, like the value of your home and investment accounts, the extent of borrowings and investment performance. It should have key facts like a summary of insurance policies, your estate plan and your tax rate.

But it should also have qualitative information. That could be your view of investing risk, the way you prioritize your goals or your expectations of the future. These will all impact your long-term financial success.

We have launched an effort to create an annual report for each of our clients. It's the best solution we have found to helping clients understand how their daily lives impact their decades-long goals.

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 However, we cannot guarantee that this information has not been outdated or otherwise rendered incorrect by new research, legislation, or other changes.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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