Financial Planning Dos & Don'ts - Engine Builder Magazine
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Business and Management

Financial Planning Dos & Don’ts

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Here are a few financial planning suggestions that can simplify your life and add to your peace of mind about financial matters:

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• At least once a year, write down your investment goals and what
strategy you will use to reach them. This will keep you focused.

• Instead of giving money to many different charities, pick a few that
are important to you, and give them a larger amount. This type of
directed giving not only makes more sense, but also makes it easier to
track your donations at tax time.

• Inventory your household possessions, optimally with a camera or
camcorder. Keep the inventory at work or in a safe-deposit box. This
inventory will help should you need to submit a homeowner’s insurance
claim.

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• Use one insurance agent and one financial advisor for your transactions.

• If you have doubts about entering into a transaction, don’t do it.
You will probably save yourself money, time, and aggravation.

Richard
L. Lipton CPA & Associates LLC, located in
Florham Park, N.J.,
draws on its founder’s 10 years as a stockholder and manager of
family-owned automotive business in Paterson, N.J. You may reach by email at [email protected]

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