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Get started on your 2023 financial goals


Get started on your 2023 financial goals

Have you pondered about 2023? If not, keep in mind that it’s just over 2 months away.

Let’s prepare your end of 2022 checklist. To get you started, here are some suggested tasks for you.

Review in 2022

The year 2022 has passed. It might be a good idea to start planning for 2023 by reflecting on what happened in 2022. Have a pen and paper ready.

Start by looking at your true financial situation.

  • What will your total income be?
  • Is there a possibility of a year-end bonus?
  • What taxes did you pay (withholding and estimated payments)?
  • It is important to have all the first-hand facts before analyzing which strategies could benefit you in 2023.

Are you sticking to your spending plan in 2022? Examine the areas of your plan that have gone well and look at the areas that need improvement.

Schedule year-end reviews

Here are some planning items that may be appropriate for your situation:

  • Am I in a workplace retirement plan or personal retirement account?
  • With the market going down since the beginning of the year, is there an opportunity to collect losses to cover capital gains now or in the future?
  • Do I need to make any changes to my tax deductions or payments before the end of the year?

Looking to 2023

What do you want to accomplish next year, personally or professionally? How does your goal fit into your budget? Make updates if needed but stick to your plan.

Then, put your goals down on paper and make sure to make them Specific, Measurable, Attainable, Relevant, and Timeline. Time-based).

Prepare for success in 2023 by reviewing your end of 2022 checklist and end the year strong.

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