“Spring cleaning” isn’t just for your home life – the same process can be applied to your financial life as well. If you’re going to do some financial “spring cleaning” here are a handful of tips and different things to consider while you are cleaning up.
Like many of you, last Thursday when I woke up, I read the news that Russia had invaded Ukraine. The destruction, disruptions, and consequences of this invasion are very real, especially for those with friends or family impacted in the region.
Conversations with clients around the desire to financially support family, friends, and charities are commonly heard within the walls of Woodward Financial Advisors. We love these conversations because they present another opportunity for us to educate and provide value to our clients, as well as to learn what truly motivates folks to give of their resources.
Financial planning reminds me of New Year’s resolutions sometimes. Our financial goals are usually well-intentioned, aren’t they? We hope to retire one day, to own a home, to pay for our education or that of our loved ones, and to give generously to charitable causes, among other things.
As we bid farewell to 2021, we hope that you have opportunities to connect with family and friends, to relax and take a break from your routine, and to consider what you’re looking forward to in the year ahead. In addition to setting goals about books you want to read, activities you’d like to complete, and personal milestones you aim to achieve, you might also take advantage of some small pockets of time during the holiday season to complete some financial housekeeping tasks. This can help you start 2022 feeling productive, and move your savings and planning in the right direction for the new year.
As a Financial Advisor, I cannot help but see the significant parallels between the consistent habits we need to maintain (or achieve) good health and those that help us be more successful in the pursuit of our various financial goals. We all seem to know what to do at a high level: save more, spend less, invest smartly, eat healthier foods, work out. What I find isn't always recognized is the relationship between the time and intensity of these actions.