Cleaning Out Your Financial Garage

I cleaned out my garage last weekend. I tend to accumulate things I don’t need or don’t often use. I pile up things that should just be thrown away. I stack tools on my shelves instead of putting them back where I got them. Instead of taking an extra minute or two out of my day, I end up creating what becomes a weekend long project each year – cleaning out my garage.

Does this sound familiar? My garage is a classic example of the compiling effect of many small decisions turning into a major project.  We do this with our finances too:

• We spend our tax refund instead of allocating it toward future goals
• We accumulate multiple insurance policies over time, making it difficult to decipher what we have, what we pay and who owns what later in life, when it’s time to make a change
• Have many different investment accounts, instead of consolidating workplace plans for more efficient money management
• We write a check to gift to charity instead of proactively planning to transfer appreciated assets and avoid gains taxes
• We write the “I love you” will, instead of considering how to more efficiently pass our property to our heirs

My point is, take the time to do some financial Spring-cleaning. Or better yet, delegate the process to a professional like us. Like many projects in life, a couple extra hands not only make the work go quicker, but might also limit the risk that something important falls through the cracks. Remember, small leaks sink big ships.

So as you dust the corners of your house, plant the garden, or like me, clean out your garage, consider giving your financial plan a once over too. And if you want some help, give us a call. We’re here to align your personal values, vision and wealth. There’s no time like the present.