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Financial Planning Checklist

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Table of Contents
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    1) CHANGES

    • Did you move?
    • Did you sell any major assets?
    • Did you refinance your house?
    • Did you change jobs?
    • Did you “add to the family”?
    • Have a parent in need of assisted care?
    • Did you receive a gift or inheritance?

    2) INVESTMENTS

    • Confirm investment goals and strategy.
    • Review asset allocation and risk tolerance.
    • Revisit income or savings needs.
    • Review outstanding loans and mortgages.
    • Review dividend distributions.
    • Review employee stock plans.

    3) TAXES

    • Project income for 2017 and 2018.
    • Review YTD dividends & capital gains.
    • Review unrealized gains/losses.
    • Check loss carry-forwards from last year.
    • Review potential deductions and credits.
    • Track donations to charity (stock donations).
    • Review any gifting plans.

    4) RETIREMENT

    • Review retirement cash flow needs.
    • Max out 401k contributions (before-tax).
    • Max out 401k contributions (after-tax).
    • Max out IRA contributions (& spouse).
    • Analyze Roth IRA conversion opportunities.
    • Take Required Minimum Distributions.
    • Consider Social Security claiming options.

    5) INSURANCE

    • Review costs of current insurance policies.
    • Umbrella insurance policies.
    • Review health insurance coverage.
    • Spend balances in Flexible Spending Acct.
    • Review Long-Term Care insurance needs.
    • Review Medicare enrollment options.

    6) FAMILY / GIFTING

    • Contribute to education accounts.
    • Review and fund trusts.
    • Make any cash gifts to family members.
    • Consider Roth IRA for kids & grandkids.
    • Plan charitable contributions.

    NOTES AND NEXT STEPS:

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