Now the new year is here it is time to do some financial spring cleaning so to speak.
Here is my checklist
- Check mine and wife's 401k balances
- Re-balance 401ks if needed I like to be in the 80 stock /20 bond range give or take 5%
- check IRA contributions for 2019
- Check auto deposits for 2020 IRAs
- Perform a backdoor roth conversion (ideally wanted to do at the end of 2019)
- Check auto investments of HSA
- Start gathering tax information
- scan and input all health care receipt not already entered
- make appointments 2020 physicals to get job discounts
Now is also a good time to see how much damage the holidays did to your bank account. It was not pretty for mine.
All is not lost. The good thing about kids is they will also outgrow things which leaves lots of good toys or clothes to be resold or donated. For me; my kids have outgrown our Bob Duallie stroller and it should help recoup some of our XMas spending. This should also be true to the kids old bikes they have outgrown.
Happy New Year let this year be prosperous.
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