As the new year launches, it’s time to think about how to make 2018 a financial success for you and your loved ones. Though there is little consensus about their origins, we know that Americans have been making New Year’s resolutions since at least the 1770s. Some of my last minute and realistic resolutions for […]
As the new year launches, it’s time to think about how to make 2018 a financial success for you and your loved ones. Though there is little consensus about their origins, we know that Americans have been making New Year’s resolutions since at least the 1770s.
Some of my last minute and realistic resolutions for 2018 are:
• Create emergency savings: Life is full of unexpected emergencies, and some extra cash can help a serious illness, home repair, or other sudden financial need from derailing your finances. Prepare for unpredictable expenses by putting aside six to eight months of expenses in an easily accessible cash-equivalent account.
• Maximize your retirement-plan contributions: Tax-managed retirement accounts are one of the most powerful ways to save for a more comfortable retirement. Make the most of them by contributing as much as you can each tax year. We usually recommend maxing out employer-sponsored plans first to take advantage of any matching contributions your employer may offer.
• Protect your credit identity: Identity theft and financial fraud are serious threats that can compromise your financial wellbeing. Protect yourself by reviewing financial statements and bills carefully for unauthorized activity.
Richard W. Paul is president of Richard W. Paul & Associates, LLC (www.rwpaul.com) and author of “The Baby Boomers’ Retirement Survival Guide: How to Navigate Through the Turbulent Times Ahead.”
Post
Share
Tweet
Print
Email
Get our email updates
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.
As the new year launches, it’s time to think about how to make 2018 a financial success for you and your loved ones. Though there is little consensus about their origins, we know that Americans have been making New Year’s resolutions since at least the 1770s.
Some of my last minute and realistic resolutions for 2018 are:
• Create emergency savings: Life is full of unexpected emergencies, and some extra cash can help a serious illness, home repair, or other sudden financial need from derailing your finances. Prepare for unpredictable expenses by putting aside six to eight months of expenses in an easily accessible cash-equivalent account.
• Maximize your retirement-plan contributions: Tax-managed retirement accounts are one of the most powerful ways to save for a more comfortable retirement. Make the most of them by contributing as much as you can each tax year. We usually recommend maxing out employer-sponsored plans first to take advantage of any matching contributions your employer may offer.
• Protect your credit identity: Identity theft and financial fraud are serious threats that can compromise your financial wellbeing. Protect yourself by reviewing financial statements and bills carefully for unauthorized activity.
Richard W. Paul is president of Richard W. Paul & Associates, LLC (www.rwpaul.com) and author of “The Baby Boomers’ Retirement Survival Guide: How to Navigate Through the Turbulent Times Ahead.”
" />
As the new year launches, it’s time to think about how to make 2018 a financial success for you and your loved ones. Though there is little consensus about their origins, we know that Americans have been making New Year’s resolutions since at least the 1770s. Some of my last minute and realistic resolutions for […]
As the new year launches, it’s time to think about how to make 2018 a financial success for you and your loved ones. Though there is little consensus about their origins, we know that Americans have been making New Year’s resolutions since at least the 1770s.
Some of my last minute and realistic resolutions for 2018 are:
• Create emergency savings: Life is full of unexpected emergencies, and some extra cash can help a serious illness, home repair, or other sudden financial need from derailing your finances. Prepare for unpredictable expenses by putting aside six to eight months of expenses in an easily accessible cash-equivalent account.
• Maximize your retirement-plan contributions: Tax-managed retirement accounts are one of the most powerful ways to save for a more comfortable retirement. Make the most of them by contributing as much as you can each tax year. We usually recommend maxing out employer-sponsored plans first to take advantage of any matching contributions your employer may offer.
• Protect your credit identity: Identity theft and financial fraud are serious threats that can compromise your financial wellbeing. Protect yourself by reviewing financial statements and bills carefully for unauthorized activity.
Richard W. Paul is president of Richard W. Paul & Associates, LLC (www.rwpaul.com) and author of “The Baby Boomers’ Retirement Survival Guide: How to Navigate Through the Turbulent Times Ahead.”
