Planning for Your Future: Make This the Year You Take Control
The start of a new year brings fresh energy—and it’s a great opportunity to step back, take a breath, and assess your financial health. Whether you’re just beginning to think about retirement or are well on your way, a little planning today can make a big difference tomorrow.
Here are some practical steps to help you strengthen your retirement planning and investment strategy this year:
- Review Your Retirement Accounts
Start by taking a close look at your 401(k), IRA, or other retirement accounts. Are you contributing enough to get your full employer match? If not, you may be leaving free money on the table. Even small increases in your contributions can add up over time.
- Set Realistic Goals and a Target Retirement Age
Think about when you’d like to retire—and what kind of lifestyle you want to enjoy. Then, work backward to determine how much you’ll need to save each year to reach that goal. The clearer your destination, the easier it is to chart your course.
- Diversify Your Savings
Don’t put all your eggs in one basket. A healthy mix of account types—like Roth IRAs, Traditional IRAs, and even taxable investment accounts—can give you more flexibility and help you balance tax advantages over time.
- Get Professional Advice
No one has to do this alone. Our Wealth Management Advisors are here to help you fine-tune your strategy, make the most of your savings, and adjust your plan as life changes. From early planning to retirement income strategies, we’re with you every step of the way.
- Review and Rebalance Your Portfolio
Markets change, and so should your investment mix. Make sure your portfolio still reflects your goals and comfort with risk. Regular check-ins can help keep you on track and reduce surprises down the road.
- Build an Emergency Fund
Life happens. Having three to six months of living expenses set aside in an accessible savings account can prevent you from needing to tap into your long-term investments when the unexpected strikes.
- Think Long-Term
Stay focused on your long-term goals. While it’s easy to get caught up in headlines and market swings, the most successful strategies are usually built on patience, discipline, and time.
- Take Advantage of Tax Benefits
Smart tax planning can boost your savings. Consider tax-efficient investments and strategies that can help you grow your wealth while reducing your tax burden.
Make This Your Year to Act
Wherever you are in your retirement journey, these steps can help you move forward with confidence. The most important part? Getting started.
Let’s make this the year you take control of your financial future. When you're ready, we're here to help you build a retirement plan that works for you.
Connect with a State Bank Wealth Advisor today—your future self will thank you.