It’s Mid-Summer – Time for a Financial Checkup
We’re more than halfway through the year, and if you haven’t already done so, now is a great time to review your progress on financial goals for 2022. Checking on your progress to your saving, business, and retirement goals now gives you time to adjust your approach if needed. No worries: we’ve got a few short steps to help you with your mid-summer financial checkup.
Step 1. Review Your Annual Goals
At the beginning of the year, when you set all those new year’s resolutions, did you also set your financial goals for the year? In a first step of your midyear financial checkup, review the budget and goals you set. Is your spending on track or below it? Taking into consideration this year’s markets, are your investments delivering the results you realistically looked for? Are your income streams where they should be?
If you aren’t satisfied with your progress on your financial goals, make some changes. When a business project is only generating losses, and they are beyond your expectations, it’s time to look at methodology. If your personal expenses are out of line, look at what you can change to bring them back into range.
Americore has programs that can help you free up funds and make the necessary changes. While the first half of 2022 markets were dismal, there may still be some ways to improve on your returns. If you have questions on strategies and opportunities, talk to the advisor you can trust. It costs you nothing to start a conversation with Dennis Bays, but it could save you a lot.
Step 2. Review Your Retirement Savings
No matter how far or close retirement is, a review of your retirement accounts is never amiss. Check the goals you set and compare them with your retirement savings. See if you are on target to meet or exceed those goals. This review is more about how much your contributions are, not the balances of those accounts. Given this year’s market performance, your balances may be frustrating, but think in terms of maxing out contributions. Then set attainable increases for each year, like one or two percent higher contributions. Though it rarely destabilizes the rest of your budget, it feels good to see your contributions rise.
And don’t forget to improve your contributions by making realistic, reachable savings goals using Blue Apple programs wherever possible. Americore programs that can make early retirement a reality. Ask us about ways to make that happen.
Step 3. Make Some Tax Reduction Moves
Americore Blue Apple financial solutions can help you with often missed tax credit and rebate programs. Programs, such as the Blue Apple health care benefit program is a government sponsored plan that not only saves money, but actually offers rebates. If you aren’t using at least one Blue Apple tax credit program, you’re leaving overlooked money on the table. This collection of opportunities contain legitimate government developed program to assist the growth of small and mid-sized businesses in America. Other incentives are designed to funnel more of a certain type of behavior. When you can save taxes through activities you’re already engaged in, it’s rash to bypass those savings.
Making your Financial Checkup Easier
Some financial advisors love to speak over their clients to as a way to act superior. At the Americore Group, we want to share our investment and savings knowledge so you can benefit. Period. We don’t want to make it mysterious or complex. At Americore, we want to show you new ways to benefit more from your investments.
Let us help, without replacing your own advisors or costing you more. We work with your team to use often missed tax credit and tax reduction opportunities. If your midyear financial checkup revealed you’re off course, call our office at 747-224-8110 or contact us here. Tell your Americore Group representative what you’re looking for, and we’ll tell you how we think we can help you make that happen.