We are at the beginning of the year so let’s take advantage of this terrible situation. Let’s use this bad situation as an opportunity to maybe do a personal finance reality check, something that’s probably good to do once in a while.
New year, good time to do it. People make resolutions. You take stock. I’d like to ask both of you if you have one or two suggestions for people in terms of financial items they might want to look at.
That they might want to revisit at the start of the year just to make sure they’re all set, the situation is where it needs to be and they might not have any nasty surprises later in the year. ‘year.
Let’s do it in advance before you realize you need it. Let’s start with you Will. What do you think?
Will Healy: Well, I think you definitely have to watch not only is it a new year, but also taxes are coming in a few months at this point. I think you have to see things. You want to maximize your IRA contributions.
Well first of all you want to budget it and pay off most of your consumer debt if you have any but assuming everything is taken care of you really need to look at ways to save you maximize your IRA contributions.