My 2017 Financial Resolutions

My 2017 Financial Resolutions
Eileen St. Pierre, The Everyday Financial Planner

I will start my 2017 on literally more solid footing as I continue to recover from spine surgery to correct my scoliosis. While my blogging activity has slowed down a bit as a result, I wanted to write down my personal financial resolutions for next year.

Rebalance my retirement portfolio.

I have to admit I haven’t done this in a few years. Being self-employed now, I wanted to take a bit more of an aggressive investing posture to make up for lower retirement contributions. But I am starting to get a little nervous.

  • In the past, I had put (110 – age)% in stocks but my allocation is now over (120 – age)% in stocks.
  • I plan on rebalancing early in 2017 before the market realizes that the new presidential administration is not going to deliver on everything they promised.

Celebrate my 50th birthday by taking advantage of catch-up retirement contributions.

I’m actually looking forward to the big 5-0. The IRS allows you to put an extra $1,000 in your IRA and an additional $6,000 in workplace retirement plans (like your 401k and 403b) once you reach age 50. My husband and I have always saved a lot more than the average person but we always try to put as much away for retirement as we are allowed.

Set some money aside to visit a few national parks.

Over the past few years, I had slowly been losing the ability to walk – hence the reason for having surgery now. My husband and I love taking road trips and enjoying the beautiful scenery our country has to offer. My goal this year is to be able to take a small hike in a national park we have not been to before.

You’ll notice my list is modest. Remember, the goal is to complete your resolutions. We’ve already got the bottle of champagne ready for us after we complete our hike.

Best wishes for a happy, healthy, and prosperous New Year from The Everyday Financial Planner!