Thrivent

Ring in the New Year with Financial Resolutions

The New Year brings the promise of new beginnings; it is a time to think about setting goals and resolving to do new things. With the New Year comes the opportunity to improve your financial well-being. Here is a checklist to help get you started with your financial resolutions:

Create a budget based on what you spent last year, taking into account the variable prices of gas, heating and food. After you have written down monthly living costs (rent, mortgage, utility, insurance, etc.) subtract the total amount you spend from your monthly net pay. The difference is what you have left for saving and for spending.

Take control of debt by paying off a credit card balance, foregoing unnecessary purchases or paying an additional amount each month to your mortgage payment. Set a goal to make this year the year you pay down as much of your consumer debt as possible, start with paying off the highest interest rate.

Increase plan contributions as much as you can; adding as little as five extra dollars per paycheck could make a huge difference in the long run.

 Review insurance coverage to be sure you are prepared for the unexpected. You should have enough life and disability insurance coverage to protect your family and your finances should anything happen to you. The National Safety Council says that one in five people will be disabled for one year or longer before reaching age 65.

Meet with a legal professional to review your will or estate strategy to ensure it reflects your current life situation. Creating a will gives you the chance to plainly communicate your wishes to your loved ones.

Without one, the state where you reside will decide how to distribute your assets to your beneficiaries. Work with an attorney or tax advisor to get started.

Perform a risk checkup to make sure your risk tolerance matches your investments. Answering the following questions may help: What is my age? How long do I have before I’ll need the money? Can I handle investment losses? What impact would a big loss have on my future plans?

Secure your financial commitment to the church and the causes you care about.

For help achieving your 2018 financial goals, contact Janet Geist, Financial Consultant, FIC, RICP, CLTC at 303-451-7297 or janet.geist@thrivent.com today or visit Thrivent.com.

Thrivent Financial and its representatives and employees cannot provide legal, accounting, or tax advice or services. Work with your Thrivent Financial representative and, as appropriate, your attorney and tax professional for additional information.

Thrivent Financial representatives are licensed insurance agents/producers of Thrivent Financial, the marketing name for Thrivent Financial for Lutherans, Appleton, WI. They are also registered representatives of Thrivent Investment Management Inc., 625 Fourth Ave S., Minneapolis, MN 55415. For additional important information, visit Thrivent.com/disclosures.

Merry Christmas!
Jillian S. Dobbins
Insurance Office Professional
Supporting Jeff Schuchard and Janet Geist
Thrivent Financial®

11990 Grant Street Ste 560, Northglenn, CO 80233
Office: 303-451-7297 ext: 100
Email: jillian.dobbins@thrivent.com

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