COLUMBIA, S.C. (WIS) - Josh Bradley of Capital City Financial Partners wants to help you prepare for the new year.
“If there was ever a year to reevaluate a lot of goals in our life, this is it. The biggest thing I try to take away from 2020 is really giving a lot of focus and time to sit back to think about what’s really important in our life and maybe what’s the most important thing that we spend our money on ... so eliminating a lot of those things that we just didn’t really need or didn’t provide any value or joy into our world,” said Bradley.
As you take stock of your current assets and finances to wrap up the year, what are some things you should look out for?
“Focusing on 2021, I would definitely look at budgeting, re-prioritizing what’s most important to you and what provides the most joy to you and maybe your family. The next thing would be covering things like emergency funds. If ever we got a wake-up call about having the basics, like an emergency fund built up, this was the year. The other thing is let’s not get too carried away. Maybe we have a lot of pent-up demand for spending or travel; let’s definitely enjoy it but take it a little slow early on,” Bradley said.
How often should we reevaluate our finances in our investments?
“We typically say looking at your investments too much is usually actually a bad thing but never looking at them at all is also not a good thing. So typically, really taking a deep dive into your investments at least once or twice a year is key to just make sure things aren’t out of balance. Investments are helpful; however, the planning is the most important thing, so this is typically something we encourage you to look at at least once a year, especially if you’re getting close to life events like retirement, a house, baby, anything like that,” Bradley said.
Capital City Financial Partners has a free planning guide to aid you in planning for the new year or any big upcoming life events. Visit their website for more information.