Are You Better or Worse off Financially This Year?

One of the fun parts of being a financial planner is getting to field and answer questions from clients and readers all around the country. In these Work Your Wealth episodes I’ll be taking time to address and answer questions I’ve come across from readers and clients throughout my career. Today I’m answering the above question.

HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:

  • Why the end of the year is my favorite time of year for clients
  • Questions I consistently receive as the year is closing out
  • A way to gauge if you are better or worse off financially this year
  • First step in measuring your financial progress
  • The measurement to use when evaluating your financial health
  • How to calculate your net worth
  • A good way to evaluate your debt situation for the year
  • The check you should be doing on your debt every January
  • Why you should review your spending throughout the year
  • How your savings goals play into your financial health
  • Different savings vehicles you can utilize to grow your net worth
  • A few things you should consider when talking about your retirement savings
  • The role a change in income can play in figuring out if you’re financially better off this year
  • How “lifestyle creep” could potentially hurt your financial health
  • Why employer benefits must be evaluated each year

LINKS WE MENTIONED ON THE SHOW

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ENJOY THE SHOW?