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Everyone’s heard the “new year, new me” routine, right?  Around this time of year, like clockwork, we invariably set goals for ourselves; some of them we keep, others, well…the gym membership seemed like a good idea at the time!  New Year resolutions aside, there are some financial goals that we can set for ourselves for 2022 that will help us achieve financial health and happiness. We’ve put together 6 financial goals to help you kickstart the new year below: 

  • Review your insurance coverage: Evaluate whether you need more or less coverage, or if you’re content with your service.  Homeowners and auto insurance are easy enough to check up on, and if your health and life insurance are offered through your employer, you can always log on to your provider’s website and double check your allocations.
  • Check on your current beneficiaries: Take time to verify whether you have updated your beneficiaries on your insurance policies, bank and investment accounts, and any other important documents.
  • Consider your tax withholding amounts: Go to IRS.gov and using the Tax Withholding Estimator to make sure you’ve elected the correct withholding amount.
  • Contribute to an Emergency Fund: Many of us are happy that we had an emergency fund in the midst of the pandemic. It’s always a good idea to have 3-6 months of living expenses saved in either a savings account or other easily accessible bank account to cover emergencies like unexpected medical expenses or loss of employment.
  • Discover your Risk Tolerance: Ask your Financial Fitness for Life consultant about your risk tolerance and make sure you are properly invested accordingly with all the recent market fluctuations.
  • Plan for your future: Create a will or establish an estate plan. An estate plan can cover situations both “now” and “later”. A will directs the disbursement of assets and care for your partner, children, or other family members in the event of your death. Some Employee Assistance Plans in benefits packages offer free legal resources that can help.

Whatever your financial goals for 2022 look like, having a plan for your financial future can help make your new year happy and prosperous! If you have any questions about your financial future, contact our team: 

 


Advisory products and services offered by Investment Adviser Representatives through Prime Capital Investment Advisors, LLC (“PCIA”), a federally registered investment adviser. PCIA: 6201 College Blvd., Suite #150, Overland Park, KS 66211. PCIA doing business as Prime Capital Wealth Management (“PCWM”) and Qualified Plan Advisors (“QPA”).

*”Prime Capital Investment Advisors, LLC (“PCIA”), Fiduciary Investment Trusts (“FF4L”)  and its associates do not render any legal, tax, or accounting advice nor prepare any legal documents. Client understands that his (her) personal attorney shall be solely responsible for the rendering and/or preparation of the following: (i) All legal advice, (ii) All legal opinions and determinations, and (iii) All legal documents. Client understands that his (her) personal accountant shall be solely responsible for the rendering and/or preparation of the following: (i) All accounting advice, (ii) All accounting opinions and determinations (iii) All accounting documents.”

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