How to Evaluate Your Year-End Financial and Retirement Planning

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Do you know what you need to review at the end of the year to ensure that your financial and retirement planning is on track? Are you searching for fee-only financial advisors in Scottsdale, AZ? Financial Advisors can help you plan for your year-end financials, begin planning tax planning, and help with retirement planning.

Are you ready to examine your finances and strengthen your strategies for a robust financial future? Explore the topics that you should evaluate for your end-of-year financial planning strategy by reading below.

Your Trusted Financial Planning Firm Located in Scottsdale, AZ

Seemingly small decisions and choices that you make daily add up over the years and have a tremendous impact on your financial and retirement planning. We know it can be quite overwhelming to know what to look for and analyze to make sure that you’re on the right track for your future and we’re here to help. As year-end not only provides a great opportunity to look back and see how you did for the year, it’s also a great time to evaluate key decisions for the future and to effectively plan.

The following breakdown provides an overview of various important areas that will greatly impact your financial future for yourself and your family.

Employee Benefits and Healthcare Options

Do you know if you’re taking maximum advantage of the options that are available from your workplace? Take some time to review your current benefit plans and healthcare options to ensure you are using the resources available to you.

You might be overlooking potential strategies that involve the following:

Estate Plans

Estate and tax laws can change unexpectedly, so it’s a good idea to review any changes in these laws to ensure your family will get the most out of your existing estate plans. These financial decisions are critical for maximizing financial protection of your loved ones.

Your estate plan review will include, but won’t be limited to, the following:

  • Creating and/or modifying your will
  • Healthcare proxy
  • Power of attorney

You will need to ensure your estate plans include directions on locating vital documents and information that your loved ones will need to access the benefits you are saving for them. Without a detailed review, you may miss critical paperwork, causing a court to make decisions in place of following your wishes.

Insurance Options and Beneficiaries

Life insurance, disability insurance, and other forms of insurance can help you protect your income and investments. Depending on your current financial circumstances, you may want to consider if purchasing a policy or modifying your current policy to enhance your protection level is the right decision for yourself and your family.

You should also ensure that your beneficiary list is accurate and updated at the end of each year. There are four primary events that potentially trigger changes to your policies, including, but not limited to:

  • Birth
  • Death
  • Marriage
  • Divorce

In each scenario, you may need to make adjustments in your beneficiary assignments to either include new people or remove previously listed individuals. In addition to the above, changing your career can also have a significant impact on your existing plans, requiring an immediate update.

Retirement Planning and Investment Management Located in Scottsdale, AZ

We understand that you are a busy professional and it can be difficult to handle all of these complex tasks when you are unfamiliar with the specifics of tax planning, estate planning, and retirement planning – that’s why we’re here to help. At ARQ Wealth, we have been helping clients get their retirement and financial planning back on track.

We offer a no-cost no-obligation financial planning session to analyze your current situation and provide you with our recommendations to help set you up for success.

Fee Only Financial Advisors Scottsdale

As we base our business on trust and have over a 98% client retention rate, we want you to rest assured that as a fiduciary, we have an obligation to put your financial interests above our own. Unlike some of our competitors who may run into a conflict of interest or recommend financial products that benefit their own company more than you, we have a legal duty to put your interests first.

Are you looking for reliable, fee-only financial advisors in Scottsdale, AZ? Contact ARQ Wealth to schedule a free consultation by dialing (480) 214-9572 or requesting a meeting here. Let our team help you create a robust year-end plan for your financial and retirement goals.

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The opinions expressed in this blog post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual. It is only intended to provide education about the financial industry. As always, please remember that investing involves risk of loss of principal and capital. ARQ Wealth Advisors, LLC is a registered investment adviser with the U.S. Securities and Exchange Commission. Advisory services are only offered to clients or prospective clients where ARQ Wealth Advisors, LLC and its representatives are properly licensed or exempt from licensure. No advice may be rendered by ARQ Wealth Advisors, LLC unless a client service agreement is in place. Likes and dislikes are not considered an endorsement for our firm.