The new year is almost here, with taxes not far behind. It’s easy to get caught up in the holiday season and forget about things you need to take care of when it comes to investing. Before jumping into the holiday fun, make sure you have everything from 2017 wrapped up and a 2018 plan already prepped. To make this easier, here are some tips on what you should be doing!
Don’t wait until the last minute to pay property and other taxes. This is one item on your checklist you should cross off early – that way you won’t have to worry about it and it won’t be a significant burden on you later. This also includes getting a jump start on taxes most people do in April. Working a little bit at a time on this (up until the due date) will save you a major headache down the road.
Like we said before, making a plan for 2018 is very important. With how flexible the investment market can be, it’s important to know the upcoming trends and how you can take advantage of them. Even if that means swapping out one investment for another, make the smartest move for your portfolio.
You don’t need to only focus on your investment plan – also focus on personal goals. This is the perfect time to write down your business as well as life goals (it is almost New Year’s, after all!). Being organized and motivated in your personal life will flow into your business and investment life. Never be afraid to take a moment to reflect on what this year has done for you and what you would like to change next year.
Make it a point to check up on your savings. Whether it be retirement, or a regular savings account, it’s important to save up money in case anything unexpected happens. Think of your savings account as another investment, if you will. The longer you leave money in your savings account (and the more you put in), the higher your return will be.
Reflect on how you did monetarily over the course of the year. Did you stick to your budget? Were your properties profitable? Now is the time to really see what you did wrong this year, and realize how you can improve it for 2018.
2017 has been a great year for your growth in investments – just think of all the things you have accomplished! By getting some of your taxes and planning done early, you can focus on that holiday food you deserve. Happy holidays and have a great New Year!