IRVINE, CA — (Marketwire) — 01/04/12 — , a full-service financial advisory firm based in Orange County, Calif., has some pointed advice aimed at people gearing up for financial fitness in 2012 with its list of 10 Financial Resolutions for 2012 — plus useful tips on how to keep them. The firm, which specializes in high-end corporate and personal accounts, is dedicated to helping clients achieve their goals through a holistic approach to financial planning.
“The start of a new year is the ideal opportunity for individuals to examine their finances and set new goals for the future,” says Darin Gibson, president of Burnham Gibson Financial Group. “For those who don-t know where to start, there are plenty of small steps that can make a drastic impact on your financial future.”
Improve any financial outlook by resolving to do the following in 2012:
1. Use the prospect of a new year as a challenge to climb out of debt. It may be the most difficult of the resolutions, but it-s the most important and rewarding of all the financial decisions you can make. Create a strategy to go beyond minimum payments and focus on getting accounts paid down as quickly as possible.
2. It-s never too early to start planning for retirement. Early contributions can add up to much greater gains in interest, which compound over time. Examine expenses and make any reductions possible so you can find the money to begin a retirement fund. If you-re nearing retirement age, review your savings progress and consider delaying retirement. Waiting longer to retire allows you more time to save and reap the rewards of employer-sponsored benefits. A few extra years of work offers additional resources and also leaves you with fewer retirement years left to finance.
3. Life insurance policies are a crucial but often overlooked aspect of any investment strategy. Many find that their goals, plans and desires have changed since purchasing their policies, and some realize that employer-sponsored coverage isn-t enough. Review current life insurance policies to ensure they-re providing all the benefits you need.
4. Most consumers are far too dependent on lines of credit as a safety net. Resolve to build a real emergency fund in 2012. Set aside three to twelve months of expenses in a savings account to get you through any unwanted financial surprises. Set a goal, and track your progress throughout the year.
5. The world of finance can be intimidating — so much so that many otherwise intelligent people disregard important expenses, fees and information due to lack of knowledge. Brush up on new legislation, ask questions and do research. Consult with an expert who-s willing to walk you through anything you don-t completely understand.
6. If you-re a parent with the means to start saving for your child-s future, kick off 2012 by opening a college savings account. The burdens of tuition, expenses and student loans can be heavy. Assess whether you-re able to help, and meet with an advisor to determine where to begin.
7. Having a specific goal in place might be all the motivation you need to feel motivated to save. Use Bankrate.com-s to see how much you-ll need to save each day to meet your goal.
8. If you haven-t established a will and estate plan, meet with an investment advisor you trust to find out how to get started. If you have a will and estate strategy in place, use the new year as an opportunity to update your plans and close any gaps. Recent legislation set to expire December 2012 provides wealth transfer and estate planning strategies that should be reviewed.
9. Comparing insurance prices is a simple way to see if you can cut costs anywhere. Consider bundling policies, and make sure coverage levels meet your needs going into 2012.
10. Define goals on based on what makes you happy. Want to see the world? Save for your children? Buy a home? Communicate your desires to a financial planner who can advise you on the best way to save. When you think about what you truly want, reaching a goal will have more meaning and you-ll be more inspired to take the necessary steps to reach it.
Burnham Gibson helps corporate and individual clients accumulate wealth, manage risk and plan for the future. Based in Irvine, Calif., the robust, full-service financial services firm offers an unparalleled complement of best-in-class services to help provide for the full spectrum of clients- financial needs and the needs of their workforces. Burnham Gibson offers financial and insurance services to more than 250 businesses and 2,000 individuals and advises on approximately $450 million in assets for corporate and individual clients. In 2010, the company partnered with Burnham Benefits Insurance Services to provide a comprehensive offering of integrated employee benefits solutions. The relationship allows both firms to leverage a larger organizational scale and depth of management, improving the quality and service they can provide for clients. For more information, visit .
Securities and investment advisory services offered through AXA Advisors, LLC (NY, NY 212-314-4600), member FINRA, SIPC. Annuity and insurance products offered through AXA Network Insurance Agency of California, LLC and its affiliates. Burnham Gibson Financial Group, Inc. is not a registered investment advisor and is not owned or operated by AXA Advisors or AXA Network. CFP® and CERTIFIED FINANCIAL PLANNER are certification marks owned by the Certified Financial Planner Board of Standards, Inc. These marks are awarded to individuals who successfully complete the CFP Board-s initial and ongoing certification requirements. Burnham Benefits Insurance Services is not affiliated with AXA Advisors or AXA Network.
PPG 65839 (10/11) (Exp 10/13)
Leslie Licano
Beyond Fifteen Communications
949-733-8679