Year-End Planning

December 1st, 2016|By Jeffrey Ricchiuti

As the calendar flips from 2015 to 2016, it may be a good time to evaluate your financial situation to determine if you need to make any modifications to your financial plan. Although your employer-sponsored account may be just one piece of your financial picture, there are a number of considerations that should be addressed that could potentially impact other areas of your finances:

  • Have you evaluated your risk tolerance and asset allocation in the last 1-2 years
  • If you are not making the maximum contribution to your plan, have you considered increasing your contribution rate by at least 1% for 2016?
  • Do you know if your beneficiaries are up to date?
  • Have you maximized your employer match?
  • Does account consolidation make sense?
  • At DirectAdvisors, we are always available to review your 401(k) or 403(b) with you, especially if it has been a year or two since you last spoke with us. Please click on the following link from JP Morgan Chase and Co., which contains a useful year-end checklist for retirement accounts here.

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