Maximize 2025: Key Financial Tasks to Start the Year Strong

  • Tillman Hartley

As we welcome 2025, it's natural to reflect on the significance of the year ahead. We’re nearly a quarter of the way through the 21st century—an interesting milestone, to be sure. But why do we find meaning in such markers? It turns out this is an example of a cognitive bias known as apophenia—our tendency to see patterns and assign meaning to dates, numbers, or events, even if they are arbitrary (think about how many people choose their birthday as a lottery number). While this bias might not always be logical, we can use it to our advantage!

"Significant" dates like the start of a new year offer us a moment to pause, reflect, and reset. While you may assign your own significance to 2025, this is an ideal time to take stock of your financial past and future. Have you been putting off any important financial tasks that deserve your attention? Here are a few to consider:

  •  Forgotten accounts: Do you have old 401(k)s, savings accounts, investments, or other financial assets you've forgotten about or need to consolidate? Use this opportunity to clean up and simplify your finances.
  • Letters of instruction: If you haven’t written a letter of instruction yet, now is the time. This important document provides your loved ones with the clarity of your instructions and a roadmap of your financial and digital assets, helping them navigate a difficult time with more certainty.
  • Beneficiary elections: When was the last time you updated your beneficiary designations? A quick review can ensure that your assets are passed on exactly as you intend, avoiding potential confusion or complications later.
  • Insurance review: Have you recently reviewed your insurance policies – health, life, home, auto, and disability? Changes in your life, such as a new job, marriage, or the addition of a family member, may warrant updates to your coverage. Ensuring that your policies reflect your current needs can provide peace of mind and protect your financial well-being in the case of unexpected events.

The start of a new year is a perfect moment to address the financial tasks that may have lingered on your to-do list. If any backburner item jumped to your mind as you read this letter, or if you would like to review your overall financial situation, please reach out and we will schedule time to discuss. We’re here to guide you through the process and make sure you’re on track to achieve your financial goals.

Here’s to a prosperous 2025, filled with clarity, action, and the peace of mind that comes from getting your financial house in order!

 

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