The Top 3 Financial Resolutions That You Can Accomplish

As we embrace the dawn of a new year, the ethereal beauty of snow-covered landscapes invites contemplation on the symbiotic relationship between beauty and effort. It’s a sentiment akin to the meticulous work of shoveling snow before settling in for a discussion that delves into the intricacies of financial resolutions for 2024.

New Year’s resolutions often stumble due to their vague nature or lack of a concrete plan. Much like the specificity required to appreciate the beauty in hard work, financial goals demand a detailed roadmap for success. In this discussion, we’ll not only explore the nuances of financial resolutions but also introduce tools to empower you in achieving your monetary objectives.

Understanding the Landscape:

Before we dive into the actionable strategies, let’s cast a quick glance at the financial landscape. In February, our seasoned portfolio manager will unravel the intricate performance of the 2023 market and provide invaluable insights into what 2024 might hold. Given the recurring theme of market volatility, being well-informed emerges as a linchpin in securing your financial future.

Key Insights from 2023:

Reflecting on the past year, a surge in market returns, particularly towards the end of 2023, caught our attention. The Federal Reserve’s decision to halt interest rate hikes played a pivotal role in steering the ship towards positivity. This lays the foundation for a crucial financial resolution—seizing the opportunity presented by higher fixed rates through a strategic approach known as “refinance and reverse.”

“Know Your Numbers” – A Blueprint for Financial Clarity:

Financial success transcends mere numbers on a statement; it’s about aligning your money with your values and aspirations. Enter the second financial resolution: “Know Your Numbers.” Moving beyond a basic awareness of account balances, this resolution involves understanding your financial needs, especially in pivotal moments like retirement. The ABC model—Assess, Define, and Evaluate Consequences—serves as a guide to effective decision-making, ensuring a proactive approach to your financial goals.

The Crucial Element: Financial Power of Attorney:

As we navigate the terrain of financial resolutions, a crucial but often overlooked aspect emerges—the need for a financial power of attorney. This legal document, regardless of your marital status, is fundamental for ensuring access to your funds when needed. Designating someone trustworthy to make financial decisions on your behalf is a cornerstone of comprehensive financial planning.

In conclusion, let’s stride into 2024 with a tailored approach to our financial goals—specificity, a clear action plan, and the right legal safeguards. Each financial journey is unique, and by aligning our strategies with our individual needs, we pave the way for a prosperous and financially secure year ahead. If you find yourself seeking guidance or have questions on implementing these resolutions, consider this an open invitation to reach out. Here’s to a year of financial empowerment and success!
If you’d like to schedule a personal one-on-one call with Michelle, click HERE to access Michelle’s calendar and schedule a day and time that is convenient for you.

We serve clients in Mineral Point WI, Dodgeville WI, Platteville WI, Lancaster WI, Fennimore WI, Boscobel WI, Richland Center WI, Muscoda WI, Spring Green WI, Mazomanie WI, Sauk City WI, Middleton WI, Madison WI, Fitchburg WI, Verona WI, Mount Horeb WI, Barneveld WI, New Glarus WI, Monroe WI, Belleville WI, Oregon WI, Stoughton WI, Darlington WI, Cuba City WI, Hazel Green WI, Belmont WI, Dubuque IA, Freeport IL

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