Personal Finance Calendar

January - Get Ready for a Brand New Year

• Write down the major financial events you anticipate in the next few years. That will help guide a discussion about whether your portfolio reflects your short- and long-term goals.
• Update your personal net worth to account for any significant changes in the past year.
• Double-check your employer-sponsored retirement plans. When determining how much to contribute, make certain to check whether your employer offers a matching program.

February - Don't Forget Your Financial Check-up

• Create a list of your top-three major expenses scheduled for the year.
• Take a minute and create a list of your monthly subscription services.
• Review beneficiary designations on retirement accounts, HSAs, and taxable accounts to ensure they reflect your current wishes.

March - Spring into Spring

• You should have received most of your tax documents by now. Start organizing your important documents so you can complete your federal and state returns.
• Check your credit report. All U.S. Citizens are entitled to a free copy of their credit report every 12 months from the national credit reporting agencies.
• Review disability insurance coverage to confirm it remains appropriate for your income, role, and career structure.

April - Tax Time is Upon Us

• Review your prior-year tax return for planning opportunities and potential adjustments for the current year.
• Tax returns are typically due before midnight of April 15. If you need to request a six-month extension, you still need to pay any taxes due by April 15.
• April 15 is also the last day to contribute to most retirement accounts for the prior year.
• Don’t forget that first-quarter estimated income tax payments are due by April 15.

May - It's Summertime, and Financial Prep is Easy

• Create or update your home and personal property inventory. Use your phone and reliable digital-backup service to record and store videos of your valuable possessions.

June - We're Halfway to Next Year

• Take a look at your “sources and uses” of money. Is it what you expected, or are you considering making adjustments?
• Don’t forget second-quarter estimated income tax payments are due by June 15.

July - Review, Reassess, Refresh

• Refresh your money skills. Add at least one book on personal finance, economics, or investing to your summer reading list.
• Reassess your emergency fund and cash reserves to ensure they align with current spending needs and priorities.
• Look back at the last 6 months. Are there any financial takeaways you can apply to the remainder of the year?

August - Back to School

• As children or grandchildren get ready for school, especially college, sit down and create a strategy to help pay for upcoming expenses. 

September - Sweater Weather has Arrived

• Most companies begin “open enrollment” for their insurance plans in the following months. Prepare now by looking at your current health plan and considering whether it meets your needs. Open enrollment for Medicare starts in November.
• Check your credit card benefits and points earned. With holidays around the corner, you may be due a deal.
• Review estate planning documents and guardianship designations to confirm they reflect your current family circumstances.
• Don't forget third-quarter estimated income tax payments are due by September 15.

October - Nothing to Fear When You Plan Ahead

• If you have children off to college next year, the Free Application for Federal Student Aid (FAFSA) window opens once again on October 1. Encourage your child to complete the FAFSA as early as possible to increase their chances at available scholarships and grants.
• File your income tax return by October 15 if you requested a six-month extension back in April.
• Medicare open enrollment begins, providing you with the opportunity to drop or switch plan coverage.

November - The Perfect Month to Give Thanks

• Review your charitable giving and update any funding strategies, if needed.
• Watch for capital gains payouts. Investment companies typically distribute capital gains in December, and by November, they usually publish estimates of their distributions.
• Healthcare.gov open enrollment begins, Medicare Part A and B premiums and deductibles announced.

December - End the Year Full of Hope and Goodwill 

• If you’re 73 or older, double check that you have taken your annual required minimum distribution (RMD) out of your Individual Retirement account (IRA) by December 31.
• If you plan to convert traditional IRA funds to a Roth IRA, review your current tax bracket and overall income to avoid an unexpected tax hit, and make sure you have enough cash on hand to cover the taxes before year-end.
• You can request an annual Social Security Statement. Compare your earnings record against your old tax returns for accuracy. This is also an excellent time to check for other irregularities to prevent identity theft.

Although we are providing you with this checklist, we are here to help with all of it. If you learned something new, or have any questions, please reach out to us!