Financial Professional Dale McCarty

SHERMAN, Tex. (KXII) - 1. What should people do as they start thinking toward the second half of the year – the holidays will be here before we know it!
• It can be a good idea to look back at your money and see how 2018 is going so far! If you haven’t already, set a budget and challenge yourself to save more!
• It might be a good time to review your retirement strategy and accounts. Make sure it’s still appropriate based on your current financial situation. Depending on your age, you may want to make sure you have the correct financial vehicles in your retirement strategy.
• It can be a good idea to work with a financial professional to see what’s best for your individual situation.

2. Is it too late to make goals for the end of the year?
• You can still make goals, in fact I encourage you to review your financial goals for the year.
o Do you want to do a better job managing your money? Look over your budget.
o Are you trying to reduce debt? Review your obligations and payment plans.
• Try and actually Log-in and look at what your retirement plan is, and if you’re on track to meet your goals.
• Take a closer look at your sources of income. Make sure you have regular income you can count on.

3. What are some commonly overlooked aspects of financial planning?
• Make sure you’re doing the basics – sign up for any employer retirement plan and take advantage of a company match. Perhaps consider an increase to your contribution to your 401K retirement plan.
• Another area that tends to be overlooked is in tax planning – are you being efficient with your money? Changing your approach early on can result in benefits down the road.
• A strong retirement plan is one that helps you to achieve your financial goals—whether that’s travel, or time with the kids or grandkids, or investing in a cause.
• What qualifies as “strong” depends on your age. If you’re in your 20s and 30s, it means growing your assets and avoiding some of the mistakes your parents made. In your 40s and 50s, again it might mean talking to a financial professional about where to put your money to optimize your return and meet your goals.