Friday, July 25, 2014

Third in a series - THE Important Conversation

As you may have guessed, the past two Tips were the primary steps in "putting your financial house in order." Be it your house, your parents' or a friend's, it all makes life easier when you are organized and can find important information quickly and in an emergency.

Other information to have readily available would be a
List of Professionals including their name, address and phone number:
Attorney
Accountant
Financial Advisor
Insurance Agent

A List of Investments including the name of the institution, account number, phone number and online access (User ID and PWD):
Brokerage accounts
Checking and Savings Accounts
Pension
IRA
401k or 403b
529 College Savings Plan
ESOP (employee stock ownership plan)

You may organize all this information in a 3-ring binder. Ideally, update it annually. Or you may buy a book with all the categories organized and separated for you. There are several offered by Amazon or any bookstore. e.g. Putting Things in Order or Get It Together: Organize Your Records so Your Family Won't Have To.

Be $ smart - put your financial house in order to give you quick and easy access as well as peace of mind.