6 Things to Add to Your Summer Plans

With the warm breeze and longer days on the horizon, thoughts of summer plans are starting to fill our minds. Here are six things to consider adding to your plans this summer:

Create an account with SSA.gov: Check your earnings history for accuracy and review your expected benefits; doing this regularly should ward off error. If you’re close to retirement age, discuss with your advisor when and how you should file to maximize household benefits.

Freshen up your estate plan: Check the beneficiaries of your IRAs, insurance policies, trusts and other accounts, and update information that’s no longer relevant. Ensure your plan protects you and your family in the case of an unexpected event.

Pencil in a family meeting: Legacy planning is more than sharing wealth – it’s also about passing down family values and history to the next generation. Host a family meeting to spark dialogue about traditions and building the future you want to see.

Share big news with your CPC team: Speak with your advisor about major life changes you’ve experienced and how your financial plan could be affected. These changes include marriages, births, deaths, divorces, a sudden windfall and more.

Check for college deadlines: Many colleges and universities have registration and tuition payment deadlines in the summer months. If you have a 529 plan, make sure to discuss qualified expenses and payment plans with your advisor.

Assess insurance needs: Periodically review coverage to ensure proper protection, especially if you’ve recently experienced major life events; your advisor can help as part of your larger risk management plan.

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