PrimeWOMAN Presents 10 Financial Tips to Reshape Your Financial Future - C. Newman, Smith Barney

PRLog (Press Release) – Apr 18, 2008 – For most of us, each year is a clean slate filled with possibilities. Are you still hoping for a bright future or are you well into making your plans happen? Decrease anxiety about being able to sustain the lifestyle you enjoy. Silence the inner voice telling you to get your financial house in order, and finally gain comfort and confidence from knowing you are laying down the steps to reaching your financial goals and fulfilling promises. Go ahead and review these goals.


1. Create a Plan – Then Relax
Creating a comprehensive plan will help you focus on some of the key questions that will shape your future. Will you be able to make that long awaited trip? Will you be able to indulge your love for sailing with a house, a dock and a boat at the shore? And will buying that house prevent you from helping your son with a down payment on his own home?

Even with a plan in place, you and your family may have recently experienced some milestone events: a wedding or divorce, a new child or grandchild, moving or retiring, among others. There may be great planning opportunities or strategies you can take advantage of or they may necessitate changes to your current plan.

2. Rebalance Your Portfolio
Market performance constantly changes the allocation of your portfolio’s assets. Make sure your portfolio is still operating in accordance with your current risk tolerance and time horizon. A financial advisor can help you ensure that it is adequately diversified and tax efficient, and can include investments with more stable performance.

3. Increase Retirement Contribution
For 2008, the 401(k) deferral limit will be $15,500. You can contribute an extra $5,000 if you are at least age 50. Be sure you are at least contributing enough to collect an employer match, if there is one.

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