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After Wall Street’s bumpy ride in 2015, more Americans are expected to make financial resolutions for the upcoming year. In case you haven’t identified yours, here are some to consider.

Save more. If you’re still employed, go beyond your employer’s match. Aim to put 10 percent (or more) in your retirement fund. If that is difficult, track expenses to find things to cut and create a strategic budget. Then increase contributions 1 to 2 percent every three months.  If you don’t have an emergency fund equal to six months of income, start one by putting aside current savings at the gas pump and on natural-gas utility bills.

Reduce debt, safeguard credit. Plan to eliminate debts before retiring, including your mortgage if possible. Consolidate credit accounts by closing a few and automate payments to avoid missing one. Sign up for credit monitoring to notify you when key information on your file changes.

Create a long-range plan. Go to ssa.gov/myaccount to estimate Social Security benefits you’d receive when claiming at different ages. Determine how much more you’ll need to maintain your lifestyle.  If you’re married, project future expenses if you both live to 95 or either of you dies and the other lives to 95.

Review investments, insurance and estate plan. Make sure you know exactly what you’re invested in.  Assess your investment strategy and allocation to determine whether they reflect your goals and current life stage.  Make sure your insurance coverage is adequate and beneficiaries are up-to-date.  If you haven’t reviewed your estate plan recently, you’ve moved or your assets or your family has changed, schedule a meeting with your estate-planning attorney.

Invest in yourself.  Health care is expensive.  Studies indicate the average 65-year-old couple will need around $250,000 for medical expenses not covered by Medicare.  Taking steps to stay fit may help you enjoy retirement and save money.  Funds spent on healthy food, a gym membership or even a personal trainer could pay multiple dividends over time.

Work with a coach.  Your odds of successfully implementing goals increase when you have a knowledgeable partner.  Make an appointment to discuss your financial resolutions and how we can work together to make 2016 a happy and prosperous new year!  Contact Jordan Dechtman, your Centennial Colorado Investment Adviser Representative at 303-741-9772, email him at Jordan@JordanDechtman.com or visit our website at www.JordanDechtman.com to schedule an appointment.

Written by Securities America for distribution by Jordan Dechtman.

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Please remember that past performance may not be indicative of future results.  Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Dechtman Wealth Management, LLC [“DWM”]), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions.  Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from DWM. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. DWM is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the DWM’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request or at www.dechtmanwealth.com.

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