With 2017 winding down, it is a good time to review your life care goals, including financial, personal, and legal.
1. Financial Review
Meet with your financial advisor to review your personal finances. The items to discuss vary depending on your age and health. However, it is always a good idea to review the composition of your investments, including retirement accounts, insurance options (life, long-term care, disability, etc.), and your saving and investment strategy to assure that they are appropriate for your personal goals.
Also, if you are at or near retirement age, you should also discuss with your advisor, and possibly your tax accountant, how to best use your tax-deferred retirement funds and when to collect social security.
2. Personal Review
While a New Year’s Resolution is often a life-change, such as quitting smoking, exercising more, or eating better, a personal review is a bit more specific. This is a good time to schedule an annual physical with your doctor, as well as your dentist and optometrist.
3. Legal Review
The end of the year is also a good opportunity to review both your estate and your long-term care planning goals. Review your Wills and Powers of Attorney documents to confirm they still accomplish your goals. Also, if you are concerned about long-term care, it may be a good time to meet with an elder law attorney to discuss these concerns and begin developing your plan in the event a care need arises.