Winter is a time in look inward. The days are shorter, the weather (at least in the east) is cold, and being inside is more inviting. So, what to do…. One good suggestion I came across is to get a binder and include: A financial asset list, a non-financial asset list (personal items that may be of value), computer passwords, credit card numbers, emergency contacts, estate planning documents and the location of your financial adviser and lawyer, funeral arrangements, health information (and this is super important if you take medication and have chronic conditions), insurance policies, and tax statements (or a note indicating the location of the previous year’s returns) and the name and phone number of the accountant.
This may also be a time to take another look at your will, healthcare power of attorney and financial power of attorney. Do you want to change beneficiaries? Do you have new grandchildren or nephews and nieces? Did you have a death in the family last year and what did you learn from that experience relative to your own financial situation?
As you ponder the future, take a look back at the last year or even the last decade and marvel at your accomplishments. Writing these things down with pen and paper instead of a computer can enhance the experience of patting yourself on the back. The exercise of writing is very positive. We all need pats on the back and sometimes we are the only one who will do it for ourselves.
Cheers to your past accomplishments and future endeavors. May you have smooth sailing ahead. Happy 2020.