It is hard to believe in 5 short weeks we will be saying hello 2020! Has a weird ring to it but it is headed our way, like it or not. This time of year is particularly busy for everyone. Family gatherings along with home cooked meals and presents consume our thoughts for the last weeks of the year. In the past we have discussed different methods of saving money over the holidays or doing things a little differently. As we worry about everyone else when trying to buy gifts or travel to see loved ones, we often forget about ourselves. This holiday season we are focusing on paying attention to ourselves and taking care of "me". We know you are not thinking about yourself as a main priority but maybe you should! This might sound cliché but give yourself the gift of a future with contributions to your plan, increase your employer sponsored plan contributions or even create a will. Whether you do an end of year lump sum into your IRA, or you set aside a little extra to buy yourself a present in the future, make sure to do so. We have a tendency to neglect ourselves, but we are the most important person in our lives. Giving yourself the gift of a future is just as important as giving your significant other a beautiful watch or giving all the kiddos toys they will outgrow in a year. As the year winds down, we should be reflecting back and asking ourselves where can I add more. The maximum contribution limit for 2019 into an IRA is $6,000. This is one way to add to your savings if you have not maxed it out for the year and are eligible to do so. If you receive an end of year bonus but it doesn't get to you until January, have no fear! Did you know you can contribute for the year 2019 all the way up until tax day 2020? If this is something you would like to do just remember you must do your contributions before you file your taxes. Perhaps you are due for a raise in the upcoming year. Maybe take that difference and put that into your employer sponsored plan by upping your percentage contribution. You won't see the increase in your pay check but you will see a contribution increase in your plan. If focusing on yourself is a difficult task, there are ways to help yourself without directly giving to you alone. Maybe you plan to help your kiddos with college or something else. You could take some of the extra funds you have and start a savings account for them. Notice how you are not directly helping yourself but in reality you are because you will be saving for the future. If money is a little tight this year but you want to give yourself the gift of peace of mind, think about making sure you have an estate plan in place. At least write down some things or create a will. This could actually be the biggest gift you could ever give to not only you but your family as well. Take a moment to stop and ask how can I do something for me. You are the most important person in your life because if you do not take care of yourself and your future you are not taking care of those that mean the most to you. If you take away anything from this let it be that it is okay to plan for me! Written By: Erin Watkins
