MONEY matters

Last quarter, I posted the financial task list for January, February and March, taken from the Financial Planning Association (FPA) website. This second post is for tasks that need to be completed for April, May and June, which are quickly approaching.

As both my parents and in-laws are well into their 80's, I so appreciate and value the importance of the task for the month of May; talking to your parents about estate, health and long-term care planning. Please don't put this one off - you will save yourself and your loved ones a huge amount of work and heartache if you address these important and inevitable end of life issues sooner rather than later.  

Happy International Women's Day!

When national polls and surveys are conducted on the subject of retirement planning, the question that’s inevitably asked is: how well prepared are you and your spouse or partner for retirement? The results are usually pretty alarming.

Many of us are procrastinators by nature, but place money, financial planning and the big Kahuna - retirement planning on the to-do list and many of us could win a gold medal at the annual Procrastination Olympics. You know who you are. That retirement planning to-do list grows year by year and the amount of money you think or imagine you need to accumulate grows exponentially each year along with your stress level.

As an avid John Bogle fan as well as a strong believer in the value of using low cost index funds for your core portfolio, these new kids on the block, fundamental index funds are, well - sexy!

As any fan of John Bogle would know, his esteemed leadership as the former head of Vanguard is one that has benefited investors worldwide. It was John Bogle that brought index fund investing to the masses.

If your house has gone down in value and you are considering dropping insurance coverage to save a few bucks, you may want to reconsider.  I’m all for tightening the belt and saving money in creative ways during challenging economic times – but lowering your insurance coverage on your home is not a place to cut back on.

Kimberly Lankford, Contributing Editor, at Kiplinger's Personal Finance says you should never lower the amount your house is insured for just because housing prices have dropped. Read her recent article How to Save Money on Homeowners Insurance to find out more.  

This task list is taken from the Financial Planning Association (FPA) website. I've divided the list into four posts, one for each calendar quarter starting with Jan-Feb-March 2011. There is much to do in January, but Feb and March are much lighter task months.

If you’ve made a New Year’s resolution to get control of your finances in 2011, here’s a list of important planning and execution tasks that should be on your money calendar for the year: