The new year is an excellent opportunity to assess your financial health. Here are four ways to get started:
Take stock of any recent changes. Our goals tend to change throughout life as we navigate milestones — new family members, career changes or retirement, and more. Does your current lifestyle align with your values, responsibilities and future plans?
Remember your “why.” Keep in mind your motivation for pursuing your financial goals. Are you seeking a better work/life balance; to move your family to a better neighborhood; to prepare for your children’s college years or wedding? Are you preparing for retirement? Have you protected against the what-ifs or unknowns? Do you want to donate more time and money to charity?
Put a detailed plan in place. If you aim to get spending under control, choose a specific goal to get you there — perhaps tackling one area of debt or developing a budget. If you want to be better prepared for retirement, consider concrete actions, such as increasing contributions to your 401(k). Don’t let your well-meaning financial resolutions vanish by April because of a lack of specificity.
Take a team approach. If you’re married, discuss financial goals with your spouse and family to build a support system that reinforces changes. Our insurance agents can guide you with a financial needs analysis, and our financial advisors can explore investment solutions tailored to your specific needs.*
To learn more about resources for assessing financial goals or to find your local K of C financial professional visit kofc.org/familyfinance.
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JOSEPH MONESTERE is chief distribution officer for the Knights of Columbus and a member of Father William J. Fenerty Council 7208 in Downingtown, Pa.
*Knights’ representatives are not financial planners and do not provide tax or legal advice. Investments are offered through KoCAA.








