Financial Fitness Zone: Money resolutions for 2017

Posted at 8:43 AM, Jan 10, 2017
and last updated 2017-01-10 10:43:58-05

Now that 2017 is underway, it’s time to start working toward those financial goals you always said you wanted to achieve. So what does that mean for your family finances?

“If you don't know -- if you put your head in the sand, aren't you destined for failure?”

Andrew Rafal with Bayntree Wealth Advisors told me you have to build a plan, stick with that plan, and think long-term when it comes to your finances -- and especially investing and building that nest egg for retirement.

“It's all about price. Supply and demand. And too many times when the markets change sentiment there's no one buying… Anytime we want reward, you’re going to have to take some risk. A lot of times we forget about 2008. We forget about 2011.”

There are always peaks and valleys on Wall Street. So what about the nuts and bolts of your budget?

Rafal told me 2017 is the year to take inventory of what you’ve got. What do you own vs what do you owe?

Take time to understand your debt and pay down the bad stuff quickly.

Finally, estate planning! Let 2017 be the year you finally decide how your loved ones will take care of everything you’ve built up in your life after you’re gone.