Year-end financial checklist: 9 personal finance tips for 2021

As 2020 comes to a close, you and your family reflect on where you’ve been and where you’d like to go

This has been an unprecedented year — one that has greatly impacted people’s well-being, both personally and financially. Like everyone else, you thought it was going to be a different year than how it turned out. As the calendar flips to the new year (thankfully!), here are some things to check off your to-do list before saying good riddance to 2020

Review or update your beneficiary designations

Make any needed updates to the beneficiary portion of your bank accounts, retirement accounts, life insurance policies, and annuities.

Have you gotten married or had a child within the last 12 months? Or perhaps a loved one has exited your life through a divorce or a death. Choosing a beneficiary for your life insurance policy is a decision you should consider carefully. This is important because beneficiaries trump who’s named in a will.1


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