Are you wondering what you can do now at the beginning of this year to prevent you from scrambling at the end of it?

Whether you’re in the retirement or accumulation phase of your life, it is important that you have goals for the new year. Writing down your goals increases your chances of achieving them.

In this episode of the Secure Your Retirement podcast, we talk about your 2022 financial goals to help you maintain an active retirement plan. We cover why topics on cash flow, emergency funds, taxes, and debt should be considered as part of your 2022 issues to look into.

In this episode, find out:

●     Take a moment and write down the top 3-5 goals you have this year.

●     Consider how your goals will affect others even as you think of how they’ll affect you.

●     Set attainable short-term goals not to overwhelm yourself.

●     Documenting your goals makes it easier to hold yourself accountable and accomplish them.

●     The things to think about to get your cash in order when you’re in the accumulation phase.

●     The strategies to consider with your RMDs and QCDs as a way of managing your cash flow.

●     Reevaluate your emergency fund when it overgrows and invest in an earning account.

●     Review your risk tolerance and understand that you can become more or less risky at any moment.

●     Take advantage of the current low tax environment and look into mortgage refinancing.

●     Come up with a plan to attack any debt you have unless it’s a mortgage.

●     Plan and be ready to file your taxes in April on the normal tax date.

●     Review your estate plan and ensure you have a power of attorney and healthcare power of attorney in place.

Tweetable Quotes:

●     “Really understand what your risk tolerance is and realize that it can change, you can become riskier and you can become less risky.”- Radon Stancil

●     “You never want to miss an RMD; there’s a significant penalty for missing an RMD, so if you’re above age 72, think about your RMD.”- Murs Tariq

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.