Your Year-End Financial Planning Checklist

On today’s episode of A Wiser Retirement™ podcast, Casey Smith, Missie Beach, CFP®, CDFA®, and Michaela Dowdy, discuss the importance of having a financial plan and a checklist for year-end financial planning. They suggest creating a personal balance sheet to determine how much cash and emergency funds are available. The end of the year can be a good time to sit down and review your expenses, and see if there are any unnecessary expenses to cut back on. They also emphasize building an emergency fund that is at least six months of expenses if you don’t have one in place already. They also talk about how to beat inflation using high-yield savings accounts. They also suggest maxing out 401k’s and considering a Roth conversion to save on taxes in the future. Listen to the episode to see what’s on the full checklist!

At the end of the episode, Casey Smith is joined by Orrin “Checkmate” Hudson for a short segment. Orrin runs Be Someone, an organization that teaches young people to move with love through the game of chess. His mission is to encourage people to focus on improving themselves and become stronger, instead of blaming external factors such as the government or societal norms. Orrin briefly shares his life story about being in a gang and how he turned his life around. He strives to help kids who are in a situation he was once in. He is hosting a free leadership training on December 22, 2023, in Atlanta. To learn more about this opportunity, click here.

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