I love New Year’s Resolution time of year not because of the goal setting but because it gets us thinking about the results we seek. Once you know your desired outcome, your best success is focusing on the small, actionable steps that ultimately lead to your desired results. Each small step is like a mini goal, a doable task, an identifiable action that, once accomplished, should build momentum to help you achieve the next small step. This is especially helpful for getting your financial house in order.

Where Are You Now?

Often, our New Year resolutions are related to health or finance. I believe those two aspects of life are so interrelated (hence the name of my business Mind, Money, Motion), but it’s like anything: you can’t improve something until you know where you are to begin with. So my challenge to you is to make this the year you look around to see where you are financially and then “get your house in order.”

To know where you are, you need to start with an inventory. Then, identify the homework required after you can clearly see what you have. Taking care of yourself now and your family in the future by getting financially organized is a solid financial foundation that enables you to make wise long-term decisions going forward.

A Way to Get Started

That concept of taking an inventory and then creating a homework list was how my free workshop, Get Your Docs in a Row, was born years ago. I am the oldest of four children, a mother of four children, and a Mimi of 10 grandchildren, so I feel very comfortable in my clients’ “financial mother” role. I am a bit of a mother hen by nature, always looking out for and taking care of keeping the house and everyone in it in order.

So, for a while, I conducted my virtual workshop monthly, quarterly, and then twice a year. Good news: I have made it “evergreen,” which means it is available on demand on my website whenever a wise woman decides she is ready to get her docs in a row from the comfort of her own home. Plus, I provide the financial inventory worksheet at no charge!

Unfortunate Realities

I wish I could stop accumulating more stories from families that did not have their docs in a row. Even those of us in the field of finance have stories. No one is immune. Often, this is the case when finances, estate planning, money matters, or whatever you want to call it, either never comes up as a topic of discussion or never goes deep enough to understand the current situation completely. That is true whether you are the parent or the adult child.

Common Issues

Too often, there is no conversation or what I call just a “surface” conversation. The surface is scratched when someone mentions that, “yes, I’m all set on my estate planning.” That usually means that there are documents in place (hopefully a will and/or trust and powers of attorney for health care and finances).

But how long ago were they drafted? Is it a case where life or the laws have changed? Or even more commonly, has the “homework” been completed? If there was a trust drafted, was it “funded”? Do beneficiary designations match what the documents say is supposed to happen? Do the appropriate people know where to find the documents, passwords, and other statements, titles, and records?

Preparing Means Happy Endings

Fortunately, I also get to hear happy ending stories too. As evidenced in the thank you notes and comments I receive after helping a spouse or family after a loved one has passed:

• “I can honestly say that most of the items on your list after my husband passed, have all been completed because of your help or ongoing encouragement. I can’t thank you enough for your help!”
• “I can’t imagine how difficult this would have been had you not made sure we were well prepared in advance before my father passed. This was hard enough!”

An Open House Tour

Join me for a 12-step financial Open House tour. A series of mini videos with many options, tools, and different places to start…one of them is sure to speak to you. I promise you will be glad you came along for the ride!

Let’s Have a Conversation:

If you had to step in to help your parents or pick up the pieces after a loss or a spouse right now, how would that go for you? Are there tasks that you know still need to be done? And what about the likelihood that we often don’t know what we don’t know? Please share any experiences that could help other women.

Marie Burns is a Certified Financial Planner, Speaker, and Author of the bestselling Financial Checklist books. Find Marie on Facebook or contact her at [email protected].

This article was first published at 60 and Me – a community that helps women over 60 live happy, healthy and financially secure lives.