Now is the time to get things started.

The end of the year is an important time to get things done to improve our financial well being.  It is also a very busy time with family and friends.  So now is the time to look at what needs to be done and then get things started so that they get done by the end of the year.

Some of the things to think about are taxes and investments.  This is the time to calculate 2014 taxes so that we can make necessary payments before the required deadlines.  If we do not have the cash on hand we need to start looking for sources for the needed money.  Equally important is to analyze what changes we need to make in our finances to make tax payments next year and to take advantage of deductions, credits and other tax strategies next year.  In sum,  if we do not start doing our tax work now, it is likely that we will not make the improvements needed for 2015 and will procrastinate until 2016.

The same is probably true about our investments.  If we do not start the process of moving our idle cash into more productive investments, and if we do not start the process of changing our current investments into those which we believe to be safer and more productive, we will likely continue our current investment portfolio for a number of months.

Likewise our estate planning strategies need to be reviewed and modified as needed.

In each of the areas, if we will just note our goals and the steps that we desire to take, then in the next couple of weeks take an hour or two to start gathering the information that we need, we will find that it will be easier to take a couple more steps.  Then hopefully we will find that during a snow day or some other late fall or early winter day, our normal activities will slow a bit and we can see the culmination of our plans with the resultant added benefits we are looking for coming our way.  This happens because, except in retail sales, the upcoming couple of months are often the slowest of the year in real estate, estate planning, and many other areas that are critical for tax and financial planning.  So, lets get started.

Posted on September 28, 2014 .