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It’s time for a Financial Checkup (Archived)

It’s time for a Financial Checkup (Archived)

June 14, 2017

It is pretty well accepted that we all need a physical checkup at least once a year. Of course, If you have preexisting conditions, your doctor may want to see you more often. Why? Because our health is never stagnant. Our body is a complex group of integrated organs, a system if you will, that works together to provide us a healthy mental and physical well-being.  It is always in motion, changing with time, subject to the environment and influenced either negatively or positively by what actions we take.

But what about our Finances?  Are they not similar in nature?  The answer is “Yes!”  Our finances are not stagnant. They fluid by when, where and how they are earned and normally travel within a system of complex and multiple financial channels. When managed properly, they work together to help provide financial wellness and long term security.  Our finances are indeed subject to the environment and certainly are substantially influenced by our actions.

Year 2017 marshaled in a significant amount of changes in everything from politics to fashion.  What hasn’t changed is our need to revisit and possibly re-address some of the actions put in place at the start of the new year.  Among other things, most financial planners would advise you to look at your savings and investment activities, personal spending goals and retirement income planning.  For business owners and higher net worth individuals, things like asset protection, income tax reduction strategy and wealth conservation are all in play.

They say, “Time flies when you’re having fun”.  It’s an old adage that allows us to think fondly about things we do and enjoy that often come at the sacrifice of more prudent and less impulsive endeavors.   Certainly there is a case for allowing life’s moments to just “happen” but there is an underlying premise that you are better served by planning for those “happenings” as best you can.  

Schedule a checkup with your financial advisor now.  If you don’t have one, get one.  You’ll be glad you did.

"It's Your Life... Plan For It."

- Eric D. Bailey, CFP®,  Founder of Bailey Wealth Advisors

Eric Bailey is a registered representative of Lincoln Financial Advisors. Securities and advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer and registered investment advisor.  Insurance offered through Lincoln affiliates and other fine companies. Bailey Wealth Advisors is not an affiliate of Lincoln Financial Advisors