Kickstart Your Year: 4 Essential Meetings to Boost Your Wealth

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• I partner with a personal banker to explore new offerings at my local bank.
• I regularly consult with my independent financial advisor and connect with an advisor from my online bank.
• I touch base with my accountant to understand the tax ramifications of my major plans for the year.

Every New Year, I kick things off on the right foot by reflecting on the past year and revving up my financial strategy to hit my goals in the year ahead. My financial team and I meet at least once a year, typically in January, and more frequently when I’m gearing up for significant life changes, like purchasing a home.

Here’s how I enlist my team of financial advisors and other experts to keep me on track and prepare for the future.

1. Touch Base with My Personal Banker

I’ve got my personal and business banking, along with some investments, set up with a great bank. There’s this fantastic personal banker I connect with at my branch. He’s super approachable and always responsive to my inquiries throughout the year, especially when it comes to my business banking needs.

As I gear up for the financial planning of the new year, my first step is to chat with him about the products and services I’m currently using and discover what new options are available that could benefit me.

This year, I have an investment maturing after being locked away for five years. I got in touch to get an update on the interest it earned and when I can access those funds. This clarity is crucial for shaping my financial outlook as I prep for my annual planning session.

2. Meet My Independent Financial Advisor

Let me tell you, I hit the jackpot when I found my financial advisor. We’ve been collaborating since 2017, and she has been instrumental in my journey toward financial independence. I genuinely look forward to our meetings!

The bulk of my planning happens during my sessions with her—ideally in January after I’ve done my reflection homework and collected the necessary details from my bank. I prepare a comprehensive overview of my financial situation, including monthly expenses, income, savings, investments, and debt. Plus, I share my financial aspirations for the upcoming year and any specific topics I want to discuss.

In our meetings, we tackle my concerns, formulate strategies to meet my financial goals, and explore how to reorganize my finances accordingly. These sessions are invaluable; I walk away feeling empowered and equipped with actionable next steps.

3. Consult My Wealth Advisor at My Online Bank

With my financial roadmap for the year set, I schedule a meeting with my wealth advisor. We’ll review what Liz and I discussed regarding my investment and savings accounts and strategize any adjustments necessary to optimize my savings and investments.

While I typically meet with my wealth advisor at least once a year, I’m not shy about reaching out more often, especially when there are new opportunities that could boost my savings and investments. I truly value having a dedicated advisor who is always available to answer my questions and brainstorm ideas.

One of the perks of working with an online bank is the flexibility it offers. I can make changes or transfers independently, but I also appreciate how my advisor handles some of this for me in real time during our discussions.

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4. Touch Base with My Accountant

As I finalize my financial plan for the year, I consult my accountant about any tax implications. This past year, I switched to paying my business-related taxes quarterly, which came with a steep learning curve that my accountant helped me navigate.

Finding the right team of financial experts to guide me in managing my money has been a journey, and I’m constantly refining this multi-step process. Over time, I’ve learned who to connect with and when to ensure I get the support I need to achieve my financial goals.