(WTNH) — The temperatures are slowly dropping and as the seasons change, experts recommend you take this time to freshen up your finances for fall. We are stretching your dollar with the changes to consider.
“Those who have financial goals, both short-term and long-term, tend to be more confident when the unexpected happens,” Roger Cowan with Cowan Tax Group said.
We’ve learned in the pandemic that the unexpected can happen in our lifetime, so Cowan suggests you take a look at your statements and see if they line up with your financial goals.
If the goals do not line up, fresh up your spending and consider rebalancing your portfolio.
“We live in a period of great uncertainty today. We live in a period of extremely low-interest rates, and we live in a period of inflation. So rebalancing may be appropriate. Consider it.”
Cowan also suggests you re-evaluate your HSA and Medicare Insurance, as both are up for open enrollment.
With the COVID variants still hanging over us and changing tax laws, it’s a good idea to review changes that could impact you and what you need in an emergency.
It can also set you up for any tax breaks you may be eligible for and want to know about before the end of the year.