Monmouth County's Ask The Doctor Magazine Nov/Dec 2020

Important Financial Resolutions To Make By, Lauren Kolacki

Keeping on top of your finances requires many of the same actions year after year. Make it a tradition to find out where you are financial- ly—and what your goals are. 1. Make a 2021 budget. Take a fresh look at your essential and nonessential expenses. Make sure that retirement and other savings are included as essentials. 2. Reduce debt.

F I N A N C I A L H E A LT H

Not all debt is bad (for instance, a mortgage), but there's really noth- ing good about carrying a credit card balance. Systematically pay down balances by focusing on higher interest cards first 3. Build an emergency fund. Everyone’s situation is different, but bad things—an illness, the loss of a job—can happen to anyone. It is important to protect yourself. 4. Review your insurance coverage. Make sure you have adequate coverage for the essential types of insurance: health, car, homeowners or renter’s insurance. Also look into disability insurance (especially if you're in your peak earning years) and an umbrella policy if you have sig- nificant assets and life insurance if you have dependents.

Life – like the markets – fluctuates. An Envision ® plan adapts. In your financial journey through life, you can’t always see the destination ahead. To navigate life’s twists and turns along the way, we have an investment process built on both adaptive technology and old-fashioned one-on-ones. Find out how an Envision plan can help you plan for tomorrow, today. Call when you’re ready to talk.

Ricardo Rivers, MBA Associate Vice President – Investments

989 Lenox Drive, Suite 200 Lawrenceville, NJ 08648 Direct: (609) 896-4623

ricardo.g.rivers@wellsfargoadvisors.com fa.wellsfargoadvisors.com/ricardo-rivers

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HOLIDAY 2020

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