Taking Stock: End of Year Financial Advice

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(Newswire.net — December 22, 2016) Syosset, New York — 2016 has been a wild year, arguably one of the most interesting years we’ve seen in recent history. And as the year winds to a close, there are some things to take note of and tie a bow on your financial concerns. 


Take a look over the past year, and see how well you’ve met your savings goals. If you haven’t, then now is the time to readjust, and look at what can be improved. The number of Americans who have no cash in the bank to fall back on is staggering. Approximately 26% of adults have no savings set aside for emergencies, while another 36% have yet to start putting away money for retirement. 

If you fall into either of those categories, then now is the time. Start small if you need to, but start. Even if you can only afford a small amount every month, it adds up over time.

Emergency Fund

This is one of the more important funds to have at your disposal, because if you ever needed it and had it available, you can avoid plunging yourself into debt while dealing with an expensive emergency.


Setting aside different “buckets” or investments of money for specific goals will help to achieve those goals and will make it easier to track your success. For example, having a separate account just for a vacation goal and a separate account just for your retirement travels, etc. 


Developing healthy and disciplined habits with regards to budget is really important. Implement the philosophy of “pay yourself first” – in other words putting your monthly savings goal in your account before you allocate any income toward any other bills. 

When making a budget, tailor it to your needs, so you feel comfortable sticking to your own rules. This will also give you an idea of where you can trim some fat with regards to spending. 


Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities.

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. 

Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable– we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual’s personal circumstances. Member FINRA & SIPC

About David Lerner Associates

David Lerner Associates is a privately-held securities broker/dealer, with clients’ assets under management of nearly $6 billion. From the beginning, the firm has been committed to educating the public about investing opportunities available to them. To that end, the company regularly holds free investment seminars.

David Lerner Associates

477 Jericho Tunrpike
Syosset, New York 11791
United States