Financial Planning3 min read

Things to review for your Year-end Planning

By Scient

Your financial plan for retirement is not a one-time decision. Each year brings changes to your life as well as those people and causes important to you. Use your year-end planning conversation with your financial professional to help ensure your goals and wishes are reflected.

Here are some of the topics your year-end planning should include:

  • Was money tight or were you able to save more than you expected? Your answer may determine how to adjust how much you contribute to your retirement plan.
  • Did you change jobs?
  • Would changing your employee benefits help your long-term strategy?
  • Review your taxes. How would contributing more to your retirement plan impact your taxes?
  • Review your debt. Is it more important to pay down debt or contribute more to your retirement plan?
  • Do you need to add or adjust insurance as a financial strategy?
  • Are you planning a major expense? From funding a renovation to paying tuition, these financial decisions impact your long-term plan.
  • Have there been any changes to your health or the health of an aging parent? If a health-related issue for you or someone in your family is now top of mind, the coming year might have you considering shifting your financial plan to include long-term care funding or saving more for healthcare.
  • Review your estate plan. Help ensure your wishes for heirs and causes are still reflected.

Talking with a financial professional about your goals now is a great way to ring in the new year.  At Scient Federal Credit Union, we offer a complimentary financial review.  Contact our financial advisor today.

Non-deposit investment products and services are offered through CUSO Financial Services, LP ("CFS") a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS:are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal.Investment Representatives are registered through CFS. The Credit Union has contracted with CFS for investment services. Atria Wealth Solutions, Inc. ("Atria") is a modern wealth management solutions holding company. Atria is not a registered broker-dealer and/or Registered Investment Advisor and does not provide investment advice. Investment advice is only provided through Atria's subsidiaries. CUSO Financial Services, LP is a subsidiary of Atria.