Financial Resolutions

Many of us start each New Year with a list of goals we are eager to achieve and a desire to “start fresh.” If improving your financial health is on your list of resolutions in 2022, consider these steps to build a stronger financial future.
A successful resolution begins with a plan. Whether you are still working or in retirement, having (and sticking to) a budget is the foundation of financial wellness. Understand and record your essential expenses, determine your discretionary costs, and focus on reducing debt. For retirees, ensure your retirement income plan is supported by a strategy that allows you to preserve your wealth and keep pace with inflation.
Savings is also an essential component of your budget. You should have a sufficient amount in your emergency savings and consistently contribute to your retirement accounts. With compound interest, the sooner you start saving, the more your money will grow. If you are fifty years or over, don’t forget to take advantage of catch-up contributions!
Finally, stay informed and get educated on basic financial strategies. Know which investments will help reduce your taxes each year and consider talking with a financial advisor for additional insight on how to improve your financial well-being.
For help making 2022 the year you make an impact on your financial health, contact us at (661) 297-7566 or visit www.PiersonWealthManagement.com.
Pierson Wealth Management is located at 28368 Constellation Rd., Ste. 396, Santa Clarita, CA 91355. Securities and advisory services offered through Cetera Advisors LLC (doing insurance business in CA as CFGA Insurance Agency LLC), member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. CA Insurance Lic# 0C92500.

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