Last Minute Ideas for 2011, by Mark Lloyd
As the year 2011 comes to a close, we need to take some time and review the year. We always want to continue to be good stewards with our money and our success. It is very important to continue to tithe and to give where you see fit. It is also a time to think of the things that you did well and the things that may need some work. Reviewing your portfolio and making sure you know if your performance is on par with the rest of the market is a good place to start because it effects your financial well-being and future. Here are a couple of last minute items to do for 2011:
1. If you are considering a Roth IRA conversion, make sure that you make your decision to convert before December 31st. The amount you convert will be taxable in April, but the future growth and the principal is now income tax free. No more Uncle Sam!
2. Take time to review your portfolio and make sure that you are properly diversified across different company sizes and the global markets. Too much of one asset category will hurt your long-term growth potential and increase the risk and volatility.
3. Lastly, review your performance and make sure that you are earning a reasonable amount of interest for the level of risk you are taking. If not, have an analysis done on your portfolio holdings to see where the shortfalls are and make 2012 the year to get back on track!
A contibutor to Fox News, Mark Lloyd’s passion is to provide continuous financial guidance that individuals and families need to secure their financial future. He has been developing safe, conservative retirement and estate plans for over 15 years. In addition to providing products and services from a number of the largest, most stable and well-respected names in the financial industry, his number one commitment is to serve his many clients and to make sure that he will be there when their life situation changes. He is a C.E.P., (Certified Estate Planner) and an R.F.C. (Registered FInancial Consultant).The Lloyd Group Inc. has partnered with some of the premier firms in the estate planning and asset protection arena in the Southeast.