As we turn our calendars to March, we get very springy. The weather starts to show signs, we spring our clocks ahead, we begin our spring cleaning, I begin to call Iowa Baseball games, and of course, spring break! But what does any of that have to do with your financial situation?
I propose a spring cleaning of sorts for your finances. Here are just a few things worth checking out:
- Beneficiaries – Are all your beneficiaries current? Always worth checking to be sure your money is going to whom you intend.
- Tax Withholding – Get a surprise (positive or negative) when you did your taxes? Now that tax rates are accurately reflected, adjust your deductions if necessary to avoid a tax surprise in early 2024.
- Retirement Contributions – SECURE Act 2.0 made changes to the amount you can put away in retirement plans. Make sure you are getting the amount you intend put away into those plans.
Those are just a few of the financial spring-cleaning items, but they are a great place to begin tidying up.
Thanks for reading along and have a great week!!
JE