By Brad Sanders, CFP®, CRPC®
Not going anywhere for a while? That statement describes the feeling in many households right now. The governor’s stay at home orders have been in effect for weeks, so now that your lawn is immaculate, house is spotless, home projects are complete, and you are well-rested, I want to offer some suggestions on how to organize your financial life. If you live in a working household with school-aged children, perhaps the previous statement is merely wishful thinking, but regardless, the following advice is still worth considering.
Here is a checklist that you can use to get your financial house in order. For those who have access to our online client portal, consider storing copies of the information listed in the checklist within the corresponding folders found in the secure vault area of the portal. This vault offers unlimited, secure cloud storage. If you prefer the “old school” method, organize the suggested paper documents and store them in a fireproof safe in your home.
While engaging in this exercise, take time to revisit your estate plan to make sure all documents are still in line with your intentions. If you have had significant life changes (marriage, birth of children or grandchildren, health concerns, etc.) since the estate plan was written, it is a good time to update your plan. While we do not offer legal advice at Stonebridge Financial Group, we would be happy to recommend the services of a reputable attorney to make those adjustments.
As a Stonebridge client, if you have any questions about accessing your secure vault, please reach out to your advisor. If a family member or friend may benefit from this information, feel free to pass it along.
And remember, while it is important to stay organized, it is even more important to stay safe and healthy, financially and physically!
Brad Sanders has been a lifelong resident of Central PA. He began in the financial services industry in 2007. Prior to that, he attended St. Vincent College in Latrobe, PA where he was also a member of the baseball team. He earned his Certified Financial Planner® certification in 2012 and his Chartered Retirement Planning Counselor® designation in 2013.