With the first day of spring on March 20, now is the perfect time to think about a little “spring cleaning” — not just at home but also for your financial plans.

Here are some quick, actionable tips to help freshen up your finances and keep them in shape for the year ahead:

1. Reassess your financial goals – Take stock of your short- and long-term goals, such as retirement plans or major purchases. Are they still aligned with your priorities, or is it time for an update?
2. Organize your accounts – Consolidate old retirement accounts or scattered investments to simplify management and reduce fees. It’s also a good time to update beneficiaries on all financial documents if you’ve experienced major life changes.
3. Review your spending plan – Review recent bank and credit card statements to identify recurring charges or subscriptions you no longer need. Redirect those funds toward savings or investments.
4. Rebalance your portfolio – Check investment allocations in relation to your current risk tolerance and goals. If you want to adjust your portfolio, reach out, and we can discuss further.
5. Streamline debt management – If you have high-interest debt, consider consolidating or refinancing to lower rates. Create a strategy to pay off balances faster, such as prioritizing the highest interest rates.
6. Boost your emergency fund – Aim to have three to six months’ expenses in an easily accessible account. If yours needs topping up, set a small monthly savings goal to reach the desired amount.
7. Evaluate tax strategies – Before April 15, review tax-advantaged accounts like Individual Retirement Accounts (IRAs) or Health Savings Accounts (HSAs) to ensure you maximize contributions for 2024. Remember, the IRA contribution limits for 2024 are $7,000 for those under age 50 and $8,000 for those age 50 or older. For HSAs, you can contribute up to $4,150 as an individual or $8,300 as a family.
8. Protect your digital assets – Update passwords for online banking and investment accounts. Activate two-factor authentication wherever possible for added security.

If you’d like to discuss any of these in greater detail or want assistance tailoring these tips to your specific goals, please feel free to reach out.

Thank you for reading!

The Trademark Capital® Team

This material is intended for informational purposes only and should not be construed as legal, accounting, tax, investment, or other professional advice. Trademark Capital’s investment strategies are built using quantitative, proprietary algorithms that are designed to identify and react to changing market conditions. However, investors should be aware that no investment strategy or risk management technique can guarantee returns or eliminate risk in any given market environment. As with all investments, Trademark Capital Management’s investment strategies are subject to risk and may lose money. The investment strategies presented are not appropriate for every investor and individual clients should review with their financial advisors the terms and conditions and risk involved with specific products or services. Due to our active risk management, our managed portfolios may underperform during bull markets. Past performance is no guarantee of future results.