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David P. McCabe,
WMCP®, ChFC®, CLU®
Financial Planner
Nathaniel D. High, RICP®
Financial Planner
Nicholas J. Over, CFP®
Financial Planner
Sara E. Martin
Operations Manager
Jennifer A. McCabe
Client Service Specialist
jennifer.mccabe@prudential.com
Centuria Financial Group
2333 Baltimore Blvd Suite B
Finksburg, MD 21048
Phone: 443-952-7232
January/February 2023
Are Your Finances Ready for the New Year?
If you’re not sure whether your financial strategy is as comprehensive as it could be, a checklist and your financial professional can help. Get a fresh start in the new year by reviewing the items on the list to see if you’re on track.
- List your assets, including investments, savings, retirement accounts, real estate, college funds, and other valuables. Then list liabilities, such as your mortgage; student, personal and car loans; and credit card debt to see the big picture.
- Revisit your budget. If it’s stretched thin every month, look for ways to reduce costs. Cable and streaming services, cell phone plans, and dining and entertainment are good places to start.
- Save money in an emergency fund to cover living expenses for three months to a year.
- Come up with a plan to pay off debt, especially high-interest credit cards.
- Check your credit score and credit reports from the three major credit reporting bureaus: TransUnion, Equifax, and Experian. Accessing one report now and the other two at different times during the year can keep you on top of any changes.
- Review your investments and rebalance your portfolio if your asset allocation or your risk tolerance has changed.
- Estimate retirement income needs. Contribute the maximum to an employer’s retirement plan, or at least enough to receive any employer matching funds. No plan at work? Consider opening a traditional or Roth individual retirement account.
- Save for college with the guidance of your financial professional. Starting early and saving consistently is best.
- Check your estate planning documents. At a minimum, you need a will; durable powers of attorney for health care and finances; and a health care proxy specifying your treatment preferences.
- Review your insurance coverage. Protection for yourself and your family might include life, disability, auto, homeowners/renters, long-term care, and umbrella policies.
- Schedule a meeting with your financial professional to discuss any concerns.
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David P. McCabe, Nathaniel D. High, and Nicholas J. Over are Financial Planners with, and offer securities and investment advisory service through LPL Enterprise (LPLE), a Registered Investment Advisor, Member FINRA/SIPC, and an affiliate of LPL Financial.
LPLE and LPL Financial are not affiliated with Centuria Financial Group.
This newsletter is general educational information provided by a Prudential Financial Professional and is not intended to market or sell any specific products and services, but rather provide general information about the subject matter covered only.
Centuria Financial Group and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.