The holidays are here; Halloween just passed, Thanksgiving is around the corner, and Christmas is hot on our heels. We are all busy, and this time of year tends to take busy to a whole new level. For Halloween, there was candy to buy and costumes to make for the trick-or-treaters—next is grocery shopping with a mile-long list of all the goods you need for Thanksgiving dinner, and then there is the decorating, shopping, and package wrapping for Christmas. WOW!
"Time to make your lists and check them twice; watch to see who is naughty or nice. You made plans and invited guests, had your dinner, and it's time to rest, BUT there is more than food to digest. You may have thought your to-do list was done, but this last thing is an important one. Holiday conversations, what are they for; to talk about the weather, neighbors, family, sports, and more. Here is a topic to start a great story; while with family, take a financial inventory. What do I have, and where does it go? The loved ones to benefit need to know."
You may ask, "What is financial inventory, and what does it have to do with this time of year?" Well, I will tell you. Financial inventory is documenting your financials and assets, gathering legal documents into an easy-to-locate place, making a list of your financial contacts, and then discussing your wishes with family and/or close friends. Once you have done this, you will want to make an appointment with your financial advisor to review your collected information to determine whether your investment strategy is working to its full potential. A year-end review can help determine if adjustments and updates are necessary before the new year.
To help you take inventory and gather information, I have attached a workbook titled "Holiday Conversations To Have Before Grandma Gets Run Over by a Reindeer." Click on the title below to get started.
My staff and I are here for you; please get in touch with us to schedule your year-end review. Make sure to bring your workbook with you; it will give us the information needed to assess your investment strategy.
David S Dixon, CFP®