New Year Financial Checklist
Anna Knight, CFP
![Anna Knight, CFP]()
Anna Knight, CFP
Financial Planner / Speaker / Author / Focused on helping Canadians navigate their Pensions and Severances
Please take a moment to go through this checklist as we begin 2016. It will give you a sense of how healthy are your finances and which areas need to be addressed.
- Have you reviewed your Financial Plan in the last 12 months?
- Is your cash flow healthy (positive); if not are you actively doing things to improve the situation.
- Are your debt(s) structured at minimal cost?
- Are your debt(s)/liabilities decreasing in balance?
- What is your Net Worth (Assets – Liabilities). Has it increased or decreased since this time last year? How about since the last 5 years?
- What was your rate of return on your investments last year?
- Is your rate of return in line with the projected rate of return in your Financial Plan? If not why?
- Are your Non-RRSP investments structured tax efficiently?
- Do you have adequate life insurance coverage in place?
- Is your Estate Plan in place and accurate?
- Have you thought about Tax Saving Strategies for the upcoming Tax Season?
- What financial goals did you set up at the beginning of 2015? Have you accomplished them?
- What are your goals for 2016? What are the actions necessary to accomplish those goals?
If you are having problems answering any of the above questions, or have identified areas that need further investigation, am available for a complimentary consultation.
Remember: If you fail to plan, you plan to fail.