Taking ActionTaking Action for Your Money


Taking action for your money: end-of-year financial planning

Posted at 5:38 PM, Nov 30, 2017

It's time for end-of-year Financial Planning and Carl Carlson from Carlson Financial has some tips to help you to stay on track!

To start, he suggests checking your rate of returns to see how you have done this year, adding you definitely should have beat your plan for this year.

But how do you know if you have surpassed your goals or if you have fallen short?

Carlson said that's what is called a benchmark and it might be something like the S&P 500 which is is up 17% year to date. So if you are invested primarily in stocks, you should be up at least 14% to 15% so far this year. You have to subtract some for fees, Carlson said.

If you haven't met the benchmark Carlson says to seek out a professional financial adviser and have them take a look and what you have and get their recommendation on how to improve it.