Boulder City Magazine® February, 2011 Issue
by Wendell Whitman
Ring in Some New Year's Financial Resolution
Now that 2011 is almost here, you may want to make some New Year’s resolutions. And this year, why not add some financial resolutions?
Here are a few ideas to consider:
Boulder City Magazine®
|First, boost your retirement accounts. Put as much as you can afford into your IRA and 401(k) or other employer-sponsored plan.
Next, look for good investment opportunities. Many quality stocks are now good values, based
on their price-to-earnings ratio.
Also, review your portfolio to make sure it still reflects your goals and risk tolerance and rebalance if necessary.
In addition, maintain adequate cash levels so you won’t be forced to tap into long-term investments to pay for short-term needs.
Finally, reduce your debt load as much as possible, so you’ll have more money available to invest.
By following these suggestions, you can help yourself make progress toward your long-term goals in 2011 and in all the New Years that follow.
Smart Financial Moves for New Parents
Here’s some news: The average cost of raising a child to age 17 is more than $222,000, according to the U.S. Department of Agriculture. And that’s before your child goes to college. So if you’re a new parent, you need to start considering your financial moves.
First, purchase sufficient life insurance to help raise and educate your child should something happen to you.
Also, prepare a will to provide for the care of your child, both financially and physically.
If you want to help your child pay for college, open a college-savings account.
Finally, strike a balance between the money you spend on your child and the amount you invest in your 401(k), IRA and other retirement-savings vehicles.
There’s no price tag on your child’s value. But when it comes to taking care of that child, be aware of the costs involved and be prepared for them.
Contact Wendell at Edward Jones www.edwardjones.com.
P.O. Box 61901
Boulder City, Nevada 89006
Phone (702) 331-3123
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