Starting off 2019 here at Mackey Advisors™, we have already had numerous discussions with folks planning to retire at a date in the not too distant future. Would it surprise you to hear that every day, 10,000 boomers turn 65 in this country? Many of those folks have worked and saved for years in order to enjoy a whole new life called “retirement” after that 65th birthday. Unfortunately, all too often the ride into the sunset becomes a drive off a cliff even if they have prepared themselves to have a financially successful retirement.
Don’t get me started on the pronunciation of this month. Feb-BRuary and Feb-Uary are two very different pronunciations. One sounds like a frat-bro joke about a month-long binder, which is also the correct pronunciation, while the other sounds like gibberish. Regardless of your particular persuasion, why is this the only month with multiple pronunciations? No one skips the p in September. Let’s discuss something productive about the month of February.
Finalize your taxes
Take a new worth snapshot
Buy items on deep discount
Happy New Year everyone! While the new tax law has been in effect for over a year now, most of us will only begin experiencing it over the next few months as we prepare our 2018 taxes. Quite a bit has changed and gradually, throughout the last year we have gotten more and more info on how we might be affected.
“If I could work my will, every idiot that goes about with “Merry Christmas” on his lips, should be boiled with his own pudding, and buried with a stake of holly through his heart!”…Ebenezer Scrooge
Does this sound like anyone you know? While it is from the original Charles Dickens’s, “A Christmas Carol,” I like to attribute it to my favorite Scrooge, Mr. Magoo. If you haven’t seen this hilarious animated classic, try You Tube or find the DVD. It is one of my favorite Christmas lines, but not so much because I am cranky, but because it tells a great story.
Depending on how you look at it, Scrooge either had it all or had nothing. He lived in a huge house, had a successful business, and spent his time counting his “crowns and coppers”. Of course he had time for all of this because that was all he had. His friends and loved ones had abandoned him and the townsfolk had trouble knowing whether to hate him or pity him.
Scrooge needed balance between success and happiness. At Mackey Advisors we work with clients to establish this balance every day.
People don’t realize it, but the Latin root for January (Ianua) means door. So, depending on your perspective you are either opening the door to the new year, or shutting the door on the prior year. If you are like me, it is more of a slamming the door shut and creating shock waves in the space-time continuum. Now onto the important things for the new year.
Find deep discounted items
Use a new finance app
Set a non-financial goal
November is popular for the Movember movement. The whole month is dedicated to foolish men (myself included) growing facial hair for men’s health issues such as prostate/testicular cancer and suicide. Wade Boggs, Borat, and our own Tom Ferkinhoff all immediately become my mustache idols for November. Their mustaches could be described just like excellent Scotches are: full-bodied, dignified and balanced. They are sooooo manly, they appear to have peat in them. I look more like Larry Bird or Justin Bieber.
On to the Movember related must do’s…
October is scary! Mainly because it means another year is almost done. This is also a good time to reflect on your spending over the past year. With Halloween just around the corner…let’s find some scary financial things to do. BOO!!
Review your credit report
Review your spending for the last year
Review your homeowner’s insurance
It is not every day that I come across a financial article that I feel is worthy of sharing with others. These days they are often steeped in fear tactics meant to confuse one about their investments or litter someone’s political agenda. Sometimes the meat of an article is pretty good but let’s just say they are a bit over seasoned.
Thankfully today is not like every day, and when I was checking some financial news on Marketwatch this morning I found something that I thought you all might like.
I was reviewing one of my favorite sites that lists when things are on deepest discount. They showed their September deals and a funny item appeared on the list: Blu-Ray Player. Those are still a thing?Anyway, going to keep it simple for September.
Pay quarterly taxes
Review your benefits
Find a financial book to read
August 4th is Coast Guard Day. Alexander Hamilton, along with the help of US congress, authorized the building of a fleet of Revenue Service Cutters. The August to do’s all relate to keeping yourself safe and limiting your exposure to harm much like the Coast Guard does with boaters every day.
Protect your home
Protect your kids
Protect your financial accounts