3 Money Moves to Make by the End of the Year

3 Money Moves to Make by the End of the Year
28 Sep 2016

With almost 3 months to go to close another investing year out here are three “money moves” to complete by year-end… These are not earth shattering moves but more common sense:

1) Get a plan!  I mean specifically a Financial Plan. I have no idea how you can, with any confidence, answer many key questions without a plan, Most people go through life winging it and I don’t see that as a very productive method for retirement preparedness. A good financial plan will validate what you are doing well, expose areas of concern and develop ways to achieve a higher sense of financial confidence. Who wouldn’t want to know that!

2) Max out all possible ways to save. Save first, spend later. We have all heard that but many of us do just the opposite. Put your investing/saving on cruise control. Max out your 401k up to the match. From there check your eligibility to contribute to a Roth IRA or traditional. It’s based on your MAGI.  Remember, you can’t over save. I haven’t met anyone that regretted putting money away. Rebalance as well– most plans can automate that too.

3) Reduce debt and control spending. Debt can be a real killer in planning for the future. Those who have a great hold on debt and sound budget often have a higher probability of success when looking at retirement outcomes.

Don’t wait for a New Years resolution, begin today. The success or failure of your financial future will be predicated on the decisions you make today, not tomorrow.

Good luck! Jeff

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Jeffrey Johnston

Jeffrey is originally from Solon, Iowa. He currently resides in Swisher, Iowa with his wife, Prudence, and his three children, Seth, Ian, and Roman. He graduated from the University of Northern Iowa in 1989, where he majored in Finance and Investments. He has 24 years of experience in the investment and estate planning business. He is currently the President of “Premier Investments of Iowa, Inc.” Jeffrey’s main focus is Estate and Investment Planning for Senior Citizens and Pre Retirees. Jeffrey became a Chartered Financial Consultant (ChFC) in 2001. He is the author of many articles on industry related topics and he is a frequent seminar presenter. He is a Board Member TRIAD Linn County Seniors Against Crime, and he is also a past Board Member of the Heritage Area Agency on Aging Task Force. He is a member of CEO Roundtable in Cedar Rapids, a Daybreak Rotary Member, and a member of the Cedar Rapids Estate Planning Council. In March of 2009, Jeffrey became the host of the Premier Investments of Iowa Financial Hour which airs every Tuesday Evening from 6PM -7PM, on WMT 600 AM Radio. In his free time he enjoys golf, fishing, scuba diving, traveling, and coaching son’s basketball teams.