Parents and New Year’s Resolutions


by Twelve Points Team

Well, you made it! The holidays have come and gone, the kids are settling back into school, everyone is getting back on schedule, and routines are routine again. It’s the beginning of the New Year.

People use this time to assess and re-assess their lives. They often come up with goals that are lofty, but not realistic, especially when it comes to running their family. People want things to change, but don’t set themselves up properly for the change to occur. Experts say you should be setting personal goals, reviewing them often, and making adjustments where necessary. The worst thing you can do is set a goal, and then miss it by a mile.

Here are some realistic goals you can set to do what is best for you and your family:

  1. Do you have a will? If you don’t, and you have children, you really should make the time to get it done. It doesn’t take long and it isn’t expensive to do.
  2. Do you have enough life and disability insurance? Check into it and make sure you do. Many people have established some life insurance but have not analyzed its purpose…is it for income replacement? To pay off the mortgage? To take care of the children including education? And the morbid fact is that if a parent is disabled, the expense to the family likely will be even greater than their passing away, and most people are not carrying enough disability insurance.
  3. Where do you get your financial advice? Who guides your choices for investments and retirement plans? It’s great when people want to be involved in the planning of their finances, but hiring someone to give advice can be extremely beneficial and save you money in the long run. Let someone else do the heavy lifting.

If you do one, or even all, of these sooner rather than later, you will be setting yourself up for success for many years to come. And, you will be able to smile knowing that you started out the year on a high note, having accomplished some of your goals.

Happy New Year!

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