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Spring Cleaning
Our Latest
Spring Cleaning
Getting Your Financial House In Order
A Money Question
Our Latest
This month one of my favorite pieces of content was a guide we put together for business owners.
One of our biggest efforts is to educate families about personal finance. If you are anything like me you didn’t grow up knowing this stuff.
We walk through the elements business owners should look at when it comes to building and protecting wealth.
You can check out the guide here.
Spring Cleaning
The grass is starting to green, mulch is being laid, and the sun is shining.
Spring is around the corner.
Cue the spring cleaning ~ Ours usually starts in the garage and ends in the unfinished basement.
It never ceases to blow my mind seeing all of the things we don’t need.
Things that have been taking up space, adding clutter and we don’t need them.
Then it comes to those things we do need and we can never find them.
You know like your car keys (at the last minute), chairs for kids’ events, and water bottles.
I always think of spring cleaning as a way for me to get organized to find those key items faster.
Well, I want you to look at your financial life the same way.
Let me guess, the complexity has been growing for the past several decades, and finding that important document at the right time is like finding a needle in a haystack.
Today, I want to talk about what items you should keep readily available and how you can do it.
Let’s dive in!
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Getting Your Financial House In Order
Key Documents
Look, I get it, it can feel daunting figuring out everything you need to have handy in your financial life.
It doesn’t have to because the reality is many of those things don’t move the needle.
Today, I just want to focus on the big items.
Net Worth Statement - The first thing we do for clients at Moment is put together a net worth statement.
That can be the backbone of getting loans, making decisions, and feeling confident in your financial life.
Tax Returns - I recommend keeping three years of tax returns available.
The reason is simple, the IRS allows you to go back three years to refile.
Life Insurance Statements - You know that life insurance you bought years ago.
You want to be able to find that document and keep it easily accessible to your family.
Property and Casualty Insurance Pages - Chances are you have your ID cards in your car. I recommend going a step further and keeping your declaration pages handy.
These show the type of coverage, the amounts, and the price.
Estate Planning Documents - You got them done and hopefully you retitled everything in the proper names.
Well, you always want to make sure you have electronic copies that are easy to access.
I get it many of these things don’t feel like a priority on a typical Sunday. Yet, when you need them they can be all that matters. So my challenge is to spend a few minutes today and collect these documents.
We keep all of these items on file for our clients at Moment.
If your financial team doesn’t help you with this, my recommendation is to find a cloud provider you like (Google Drive, Dropbox, etc..) and have a file to house all of these items.
I have learned you never think you will need them until you need to move Heaven and Earth to find them.
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Your financial life should be a priority. The easier you can create access to key documents often the better the results will be for you.
So, remember this spring when you are spending you are cleaning out your garage ~ spend some time cleaning up your financial picture.
Until next time my friends!
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A Money Question
On a scale of 1 to 10, how would you rank your finances?
Let’s be real, it can be hard to come up for air. The week happens, the weekends are packed and the cycle repeats.
The reality is your finances are too important (my opinion) to brush them off. They need to be a priority and that starts with being honest about where you are starting at.
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3 Ways I Can Help You
💰 Schedule an introductory call with Moment. We help athletes, entrepreneurs, and key employees build and protect wealth.
📹 Check out my YouTube channel. A safe place to get smarter with your money.
📷 Interact with me on Instagram. Where I provide bite-sized daily content to level up your money game.
Moment Private Wealth, LLC is a Registered Investment Advisor, located in the State of Missouri. Moment Private Wealth provides investment advisory and related services for clients nationally. Moment Private Wealth will maintain all applicable registrations and licenses as required by the various states in which Moment Private Wealth conducts business, as applicable. Moment Private Wealth renders individualized responses to persons in a particular state only after complying with all regulatory requirements, or under an applicable state exemption or exclusion. Nothing in this content is intended to be, and you should not consider anything in this content to be, investment, accounting, tax, or legal advice.