Review and Plan

June, the midpoint of the year, is a great month to review your annual spending plan and make adjustments as needed. This will ensure that you have the necessary funds for vacations and other summertime activities.

In addition to your monthly budget items, seasonal expenditures may include summer camp, daycare, summer school, family travel, etc. Have you added these costs into your spending plans for the next few months? Now is a good time to do so to make sure these expenses are covered without dipping into your emergency fund or long-term savings.

As part of this review, you may want to check your investment statements to make sure your portfolio is in alignment with your financial goals. It is also a good time to meet with your investment advisor or CPA to review your financial investments to see if changes are needed.

If you are retired or close to retirement, it is important to review your income needs and how much will be covered by pensions and Social Security. Having this information available will help inform whether or not additional income needs to be generated from your investments.

**Important dates to remember:

Quarterly estimated tax payments are due by June 15, 2022.

For the Academic year 2021-2022 –FAFSA forms must be submitted by 11:59 p.m. CT on June 30, 2022. Any corrections or updates must be submitted by 11:59 p.m. CT on Sept. 10, 2022.


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