Why did summer end so fast?
In the old days, summer seemed to last a lot longer. I think it was only weeks ago that we were
celebrating Memorial Day and then the Fourth of July. Now Labor Day has come and gone and my
“To Do”
list didn’t shrink much.
“To Do” lists always seem like a good idea so we can see
progress in accomplishing tasks and preparing for events. My mother made us kids create a “To Do” list,
but it was mostly chores. Maybe that’s
where I learned to rebel at “the list”.
In my Air Force days, we lived and slept with checklists -one
to do list for work, one to do list for home, and two dozen Air Force
checklists for critical tasks so we experienced “Zero Defects”. It was the making of many nightmares for me
since lives were at stake.
So what does have to do with financial planning, now that
summer is over? A lot.
Now is the time to plan on re-balancing your portfolio since
the stock market, especially the US stock market, has been going up for the
last four and a half years since March 2009.
Now is the time to take some losses, if you have any, to offset some of those
gains embedded in your taxable accounts that you can take lower your future
taxable amounts. Now is the time to see
if you’re on track to save enough this year.
Kick it up a notch and increase your regular savings if you need
it. Now is the time to reduce long term
bond funds what will shrink when interest rates go up.
There is still time. However, don’t put it on your “To Do”
list. Put it on your calendar for a specific
date and time you will do this. This is how I do things these days when I can
see the value in accomplishing certain tasks.
Think of how much an hour you’re making when you save $500 or $1,000 on
your taxes. And it doesn’t take an hour
folks.
Still want to put these critical tasks on a “To Do” list? Well, it’s time to burst your bubble with a
Harvard Business Review article that says they don’t work: http://goo.gl/wGd2m6
Nike is right. Just do it.
