Your Fall Financial Checklist: 5 Simple Tasks
As the year winds down, fall is the perfect season to check in on your finances and clear away clutter. These five simple tasks—from reviewing beneficiaries to organizing key documents—can help you start the new year with clarity and confidence.
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This discussion is with Vector advisor Chris Wagner.
Summary
Fall is the perfect time to do a little “financial spring cleaning.” At Vector, we’re committed to helping our clients achieve long-term goals, but there are also some small steps you can take right now to set yourself up for success.
Here are five easy financial tasks you can tackle this fall:
1. Review Your Beneficiaries
Take five minutes to log into your retirement accounts, life insurance, or old 401(k)s and make sure your beneficiaries are up to date. Life changes—marriages, divorces, new family members—can happen quickly, and keeping your paperwork current can save your loved ones stress down the road.
2. Refresh Your Passwords
Just like changing the batteries in your smoke detector, updating your passwords is routine maintenance that protects your most valuable assets. Update weak or duplicate passwords, enable two-factor authentication, and make sure a trusted family member knows how to access your key accounts if needed. Consider using a password manager for extra security.
3. Sweep Out Old Subscriptions
Take a look at your bank and credit card statements for recurring charges—subscriptions, apps, streaming services—that you no longer use. Canceling these can feel like finding extra cash in your pocket and gives you back control over your finances.
4. Review Your Insurance Coverage
Insurance is easy to set and forget, but it’s important to make sure your coverage still fits your life. Review your home, auto, umbrella, life, and disability policies. Have you added new valuables? Has your liability protection kept pace with your needs? A quick review now can prevent surprises later.
5. Organize Your Key Documents
Make sure your wills, trusts, healthcare directives, powers of attorney, and insurance policies are all in one place—whether digital or physical—and that someone you trust knows where to find them. This organization provides clarity for your family during stressful times.
A Little Maintenance Goes a Long Way
None of these tasks should take more than a few minutes, but together they’ll give you a clearer, more confident financial picture heading into the new year.
If you have questions or want help prioritizing areas of your financial life, please reach out to your team at Vector Wealth Management. We’re here to support you every step of the way.
Chapters
0:00 — Welcome & Introduction
0:28 — Why Fall Financial Cleaning?
0:59 — Check Your Beneficiaries
1:21 — Update Your Passwords
2:09 — Cancel Unused Subscriptions
2:23 — Review Your Insurance
2:51 — Organize Key Documents
3:34 — Wrap-Up & Next Steps
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These discussions aim to spark dialogue about enhancing retirement readiness and making more informed financial decisions. At Vector, we delve into the nuances of scenario planning, offer insights and guidance tailored to each client's unique circumstances. If you or someone you know is pondering their financial future or seeking clarity on their retirement plan, we're here to help.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.
Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation.
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