Simplify Your Finances: Investing


Consolidate your retirement accounts. If you have retirement accounts with former employers, consider consolidating them in an IRA or your current employer’s retirement plan. Fewer retirement accounts mean fewer statements to review, which can save you time and may make it easier for you to evaluate your overall investment picture and determine whether you are on track for your goals.

And if you are past age 70½, you may find it easier to take your annual required minimum distributions from one or two retirement accounts rather than several.

Make saving "automatic".

Contributing to your savings and investment accounts can be a snap when you automate it. One way to automate it is to participate in a retirement plan at work. Typically, your employer will automatically deduct your contributions from your pay and deposit them into your retirement account without you having to lift a finger.

You may also be able to automate contributions into your regular savings and investment accounts. Perhaps your employer can deposit part of each paycheck directly into those accounts, in addition to the account you use for your immediate needs. Or you may be able to arrange through your financial institution for recurring transfers to be made at regular intervals from, say, your checking account to your investment account.

Hire a financial advisor.

Bringing in a pro to help with your investments and investment planning can help free up your time and may remove some stress from your life. After a thorough financial review, a financial advisor will generally develop a customized investment plan based on your specific situation and goals, and may help you choose and monitor the investments in your portfolio.

Still confused? Copper Leaf Financials’ team of CPAs and experienced financial planners have worked with clients in Vermont  for more than 15 years to help them achieve their short and long-term financial objectives – mindful of the need to adjust strategies as life circumstances evolve.
For more information call 802-878-2731.