By Jordan Dechtman, Wealth Management

06/07/2010 If you look at one year as a single game of finances, we’ve reached half-time. Time for a pep talk from your financial coach, a check of your goals and possibly some game plan adjustments for the second half.

Retirement: Have you kept your resolutions for paying yourself first by adding to your retirement accounts? If you’ve received a raise and haven’t done so already, consider increasing your 401(k) contribution or having your employer direct deposit the extra into your investment account for IRA contributions. Same is true of any bonuses, tax refunds or other windfalls. Choose saving or paying down debt over consumption.

Spending: If you resolved to curb your spending, take time to check yourself and see if you’re still on budget. That bit of drift that may have started earlier in the year could have escalated to unacceptable levels. Rein it in now, before you get out of control, and you’ll find yourself more flush when you need it – like when the holiday buying season arrives.

Credit: If you haven’t done so in the past 12 months, request your credit report. You get one free each year. Read through it for errors and suspicious activity that might indicate potential identity theft.

Cash Reserves: Do you need to make home repairs or improvements? Will you be paying tuition or fees for children or grandchildren’s education and activities in the fall? Is there a charity event coming up to which you’d like to make a good-sized donation? How much cash are you going to need for these kinds of items in the next six months? Plan now how you’ll fund those needs while still maintaining an emergency fund for the ones you aren’t expecting.

Take advantage of our wealth management services and take stock of your performance in your financial game to help ensure you make your goals before time runs out this year. Call your personal financial planner, Jordan at 303-741-9772, email him at Jordan@JordanDechtman.com or visit our website at www.JordanDechtman.com for a half-time review and pep talk!