| Summer is right around the corner and
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| | and roll the money into other
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| most of us have our to-do-
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| | tax-qualified plans. The purpose here
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| lists figured out, mentally, if not
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| | is to consolidate your multiple plans
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| written down yet. Bible camp for
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| | into one or two accounts.
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| the kids, plant a large garden, and a
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| | This'll make it easier for you to keep
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| trip to the lake. What about
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| | an abreast of what your money
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| financial housekeeping, shouldn't that
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| | is doing. With fewer accounts, you'll
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| be on your list too?Early summer is a
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| | have less confusion, hopefully
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| great time to take a financial breather.
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| | everything is on one statement and if
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| The
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| | you have questions or need to
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| holidays are a long way off, the taxes
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| | make changes you only have to talk to
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| have just been paid and we're
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| | one representative.Coverage
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| spending time eating in the backyard
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| | CheckupInstead of merely simplifying your
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| instead of dining out.If you take even
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| | financial life, you should also
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| one day out of your summer play/work and
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| | make sure that you are providing
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| organize
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| | adequate protection. It is a good
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| your finances, you could cut down on the
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| | idea to have insurance on your home,
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| forest of bills, bank
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| | your health, your car, your
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| balancing, and paperwork facing you all
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| | loved ones, and your income. Don't
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| year long. Now is even a good
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| | forget, though, you can over do it
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| time to take a look at your retirement
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| | and have too much insurance. You need to
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| and investment accounts and
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| | decide what level of self-
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| check up on your insurance
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| | insurance you are comfortable with.The
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| coverage.Getting StartedStarting with
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| | law requires you to carry automobile
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| your bank papers, check out how many
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| | liability insurance is
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| savings and
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| | required by law. At the least you should
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| checking accounts you have and minimize
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| | have term life insurance to
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| them. I like to have two
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| | replace your income and help your loved
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| checking accounts for the house, one is
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| | ones with debt and living
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| used only for the regular
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| | expenses. Homeowner insurance is
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| bills and the other is for household
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| | important in case your home becomes
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| items and irregular spending.
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| | unlivable due to fire or other
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| Two savings accounts are enough as well,
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| | incident.Again, if you can get your
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| one for long-term saving and
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| | insurance through one provider, your
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| the other for short-term.Another time
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| | life will be simpler with fewer agents
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| and paper saver is if you set up an
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| | to visit with. Perhaps you can
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| automatic deposit
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| | even have access to your account through
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| of your paycheck into your checking
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| | the Internet. The less
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| account, and then set up an
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| | effort it takes to understand your
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| automatic payment from your checking
| |
| | coverage and to make changes, the
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| account into your savings,
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| | less stress and the more time you'll
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| investment, or IRA accounts. Even if you
| |
| | save.Final ItemsWhen was the last time
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| pay yourself only $10 a
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| | you updated your will? If it was more
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| week, it adds up over the year and is a
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| | than a
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| good discipline to learn. You
| |
| | year ago, you might want to do it again.
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| can even use automatic deposits to save
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| | Assets increase or decrease,
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| money for Christmas presents,
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| | potential inheritors are born, and maybe
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| a vacation or other "special
| |
| | you've decided that you'd
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| occasions".If you are technologically
| |
| | like to leave a little something to your
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| savy and comfortable with the idea of
| |
| | church. Updating your will
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| electronic payments, consider using
| |
| | is a good way to make sure your final
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| e-payments to pay your regular
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| | wishes are carried out.
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| bills, such as mortgage, electric, or
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| | Putting some of your assets in a trust
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| car loan. Don't let the
| |
| | can save on probate costs.
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| companies do electronic with-drawls for
| |
| | Also if you become incapacitated the
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| you. How do you guarantee
| |
| | trust can manage funds for
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| that they took the right amount, and if
| |
| | people with special needs - a child who
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| they made a mistake (which
| |
| | needs extra care, for
|
| happens) how do you get the money back?
| |
| | example. A trust is also another way
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| It is a lot simpler and
| |
| | distribute your assets to
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| potentially safer for you to do an
| |
| | children or grandchildren at a specific
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| electronic bill-pay through your
| |
| | age, such as when they reach
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| bank.Another stepIn 2001 the Economic
| |
| | age 25 or have children of their
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| Growth and Tax Relief Reconciliation Act
| |
| | own.Ultimately, you will have to decide
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| made
| |
| | just how much consolidation of
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| it easier for you, the investor, to
| |
| | planners, agents and financial
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| consolidate your retirement
| |
| | management you want to do. Once you've
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| accounts and still retain the
| |
| | cleaned house on your finances, spending
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| tax-favored treatment of the money.
| |
| | an afternoon in the hammock
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| Prior to this act, advisors frequently
| |
| | will be a lot more restful. Having a
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| told their clients to keep
| |
| | peace of mind about your
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| retirement accounts separate to save on
| |
| | financial affairs is truly a good
|
| taxes.Now you can take eligible
| |
| | feeling.Roger SorensenAmerica's Financial
|
| distributions from tax-qualified plans,
| |
| | Guide can be found at ==> Subscribe to
|
| 403(b) and 457 pension plans and other
| |
| | Money Basics via - Are you ready for
|
| types of plans like the IRA,
| |
| | financial freedom?
|
