Amazing how fast this year has gone by. With the end of the year approaching, there are many financial items that will need addressing including open enrollment for health insurance and employee benefits, retirement contributions, reviewing your budget and end of the year charitable donations and other tax planning items. This makes October the perfect month for reviewing your GET READY! Planner and GET READY! Binder or whatever financial organizer system that you use. October is also Financial Planning Month. Here’s what you should focus on:
- Review and update all of your insurance information. This will help you to determine what coverages you may need or no longer need when it comes to open enrollment.
- Review your retirement savings status. Make sure that you have current balances for all of your plans.
Later this month, I'll review how you can optimize your group insurance and employer retirement plans. For now, you’ll want to gather all of your information.
Here are two resources to help you GET READY for open enrollment:
GET READY! Toolkit: Access the GET READY! Toolkit on tonysteuer.com (here). You’ll find worksheets where you can record all of the details for your insurance and retirement plans along with a retirement tracker. The toolkit, which is free, also includes all of the other worksheets from GET READY! as fillable, downloadable PDF’s on tonysteuer.com (here). To get the most out of this toolkit, get your copy of GET READY! first (Amazon link).
Insurance Made Easy: Available for .99 cents through the end of October 2019 (Amazon Kindle version (here). Insurance Made Easy covers all types of insurance that you will need to review for your employer open enrollment. Insurance Made Easy provides definitions and breakdowns of coverage options for employer based insurance and individual insurance.