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Let's Not Drop the Ball in 2016

Let's Not Drop the Ball in 2016

| December 22, 2015


2016 Times Square Waterford Crystal ball 


With 2016 fast approaching, it is a good time to reflect on the past year and think about the future. My practice is to reflect on those activities of the past year that have made me most proud even before I reflect on what I could have done better. Then I identify the goals I am determined to accomplish over the coming year. Some of my resolutions are personal and others are professional. All of them reflect my determination to grow as a person.

I am convinced that success in achieving resolutions requires the development of specific, concrete goals. Targeting a specific goal specifies how this resolution can be accomplished. If my resolution is to lose weight in 2016, my goal might be to lose 20 pounds by year-end, to be achieved by committing to a low carbohydrate diet (as pasta is my weakness) and by implementing a one hour fitness routine four times a week. Thus equipped with a concrete goal and specific methods for achieving that goal, I am on my way to achieving my resolution.

So it makes sense that, as a CERTIFIED FINANCIAL PLANNER™, I would formulate money and finance resolutions. When our Responsible Investment Group team meets with prospective clients for the first time, we strive to become acquainted with them in depth with a major focus on their goals. We want to know who they are, who they want to become, and why they come in to see us that day. Is it to start saving for retirement? To plan to purchase a home?  To initiate college savings plan for their children?  In other words, we wonder which of their life resolutions may we play a part in addressing.

What are your financial resolutions for 2016? If you are still formulating them, here are some ideas:

I resolve accumulate three to six months worth of living expenses in an emergency fund.  I will put $x every paycheck until I reach this goal.


I resolve to create a plan of attack for paying off my debt. I will pay it off by focusing on the debt with the highest interest rate first and work my way down.


I resolve to evaluate my overall estate plan including my will and beneficiaries by February 1, 2016. I will make an appointment to address any deficiencies with estate planners by March 1, 2016.


I resolve to contact Danielle for a recommendation of a budget spreadsheet or tracking website by January 15, 2016. I resolve to comprehensively review my budget and monthly bills by March 1, 2016 in an effort to modify my spending while still retaining a satisfying quality of life. I resolve to achieve a monthly surplus by July 1, 2016.


I resolve that by February 1, 2016, to confirm that I am taking full advantage of any company match on my employer-sponsored retirement plan (it is free money!) and to determine how much more I can contribute to my retirement plan each paycheck.


I resolve to seek professional help with my finances…not because I can’t figure them out on my own, but because I have so many competing commitments that financial matters do not receive the attention that they deserve. I resolve to set up an appointment with my advisors by February 1, 2016.

It is reasonably easy to make resolutions but more challenging to keep them. Think how busy gyms are in January and how empty they become a few months later. Commit to your goal and fearlessly stay the course. It is all about creating milestones to make sure you are keeping on track.


I am here to help you with this process, so do not feel you are on your own. Please let me know how I can help.

Happy 2016. 


The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.