8 On Your Side: End of year financial checklist

Local News

LAS VEGAS (KLAS) — It’s a new year and that means you want to make sure your finances are in order.

The CEO of Brokers International, Mark Williams speaks to 8 News Now regarding the key things you need to go over for a successful 2022.

First things first, make sure you have put away as much as possible into retirement accounts.

“You’re allowed to contribute a certain amount … retirement accounts, comes out pre-tax into 401 k, or IRA, OR after-tax with ROTH IRA, YOU get tax benefit every year,” said Williams.

If you created a savings goal throughout the year, take a look to see if you are on track by making sure you have an emergency fund in place.

Another rule of thumb, taking a closer look at your credit history, by making sure your history is reflected accurately.

“Check your credit reports, do it on a regular basis anyways, put it in calendar, but good to check it at end of year, keep up with it, most importantly for discrepancies,” Williams added.

Another option is to sign up with all three of the major credit bureaus for a free credit report annually. You can also go through your banking location, credit card companies also offer a similar service.

WIlliams also says if you have had a change in your marital status or personal circumstances there is one more area to look over.

“Double check beneficiaries on your health and life insurance policies.. divorce, death, marriage, god forbid something should happen, but you want to make sure the right people, get the right money,” Williams added.

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