THIS TIME OF YEAR, it’s easy to focus on
family and fun, but it’s also a good time to
review finances. The new year and tax season
are around the corner, so resolve to look over
your portfolio and your saving and spending
behaviors, and set goals for the coming year.
Dan Greenshields, president of Capital
One ShareBuilder, says, “A financial checkup
should cover three key areas: assessing what
you have and what you owe, setting goals and
designing a plan to get you there.”
He recommends the following tips to
help jump-start your personal fiscal new year.
•Give your portfolio a tuneup. Take a
look at the investments you have and make
sure you’re maintaining a well-balanced,
diversified portfolio that aligns with your risk
tolerance and goals.
•Manage capital gains and losses. If
you have underperforming investments, consider selling them, as you can use losses to
offset overall gains on your 2013 tax return.
Consult your personal tax adviser before taking action.
•Maximize retirement savings. If you
have a 401(k), max out your contributions
(and your employer match, if you have one) to
gain full benefits for the tax year. Also, while
you’re permitted to make IRA contributions
through the tax-filing deadline, contributing
now may provide additional growth potential.
•Create an emergency fund. To minimize the chance of incurring debt from unexpected events, create an emergency fund.
Budget wisely to allocate extra funds to an
interest-earning, Federal Deposit Insurance
Corporation–insured savings account. You
can also set up automatic contributions to
build your savings. A good rule of thumb is to
maintain six months’ worth of expenses.
Members can get a head start on their
potential investment growth with Costco’s
exclusive pricing program with Capital One
ShareBuilder. Online stock trades are $5.95
per trade, and executive members opening a
newly funded account are eligible to receive a
$50 bonus. For more information, visit Costco.
com and search “ShareBuilder 2014.” C
and ... portfolios?
©2013 Unilever INT 121979
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