Back Friday

That's AM.  We were up, cleaned up, coffee made and heading out the door.  After all, the black Friday deals were waiting and I had Christmas presents to pick.  Thankfully, I wasn't one of the people standing in line yesterday, so when we arrived all was clear.  It was smooth sailing and we all but finished all of the holiday shopping. 

After a short nap, a little Christmas organization and a shower, I stumbled across this article.  Jeff and I love Nathan Backrach and try to follow his tips whenever we can.  This is one we do already but I'm so bad at explaining it to the boys...Nathan puts it so much better.  You've asked H, so here you go...


Simply Money: 'Back' is the new Black Friday

"While today may be one of the biggest shopping days of the year, a day that millions of Americans look forward to, it's time to change the way you think about this day-after-Thanksgiving. Instead of "Black Friday," consider today as "Back" Friday.  This is a good time of year to reflect on what you are grateful for, and look back on how your family's financial year has played out.

Take personal inventory

Has your personal situation changed for the better or worse? Are you more secure in your job? If you were lucky enough to have spent time with your parents for Thanksgiving, how are they doing? Are you comfortable with their ability toward off the ever-present scammers lurking out there ready to take advantage of seniors?

Personal return policy

Don't forget to review your 401(k) and other investments. Undoubtedly, market conditions have affected your personal returns, and as the Congressional "Super Committee" stumbles and the Euro zone crumbles, this is an excellent time to re-evaluate the amount of risk you are taking. The dramatic 2008-2009 stock market sell-off illustrates the price tag for risk. Don't be afraid to make a policy of "returning" some chips by cashing in on some winners and taking some risk out of your investments. We recommend that you at least reduce your foreign stock and bond exposure while emphasizing quality in both segments.

Gifts we give ourselves

Tis' the season of giving and if you're still trying to figure out your holiday gift list, we would suggest adding "a financial plan" to the top. Our mantra is pay yourself first, and this is no exception. A financial plan(for you, for adult children just starting out, as well as parents well into their retirement years)is a starting point for assessing the road you are currently taking toward your long-term financial goals. A plan should be tweaked and updated as your life changes, taking into consideration potential potholes and detours to allow you the time to make necessary adjustments early enough to keep you on course. A plan should include everything from a careful evaluation of all of your investments, to strategies to save for college while simultaneously saving for retirement, to the potential impact of long-term care costs, to estate planning tactics.

Getting a financial plan this year may provide you with the luxury of using next year's "Back" Friday differently - giving thanks for the unforgettable family moments you enjoyed over the last year."