Financial Spring Cleaning

Financial Spring Cleaning

March 27, 2018

How can you clean up financial clutter?

1. Review your financial plan

You should review your retirement assets, plans to fund education, estate planning, risk and asset management, and emergency funds. It is crucial to revisit and review your financial plan regularly and keep it up to date.

2. Review old investments and search for missing money

Review your retirement portfolio and savings. If you are unhappy with the returns and retirement outlook, consult your financial advisor and reallocate funds accordingly. Remember that diversification is important! Make sure to check on any possibly forgotten 401(k)s from previous jobs, as almost 30% of employees leave funds in old qualified retirement plans.

3. Revaluate your current insurance 

Consider the amount of your current life insurance policy, and if it is enough to protect your children and other dependents. On the other hand, you may be an empty-nester overpaying for coverage. Think about your current circumstances and weigh your options.

4. Update your estate planning documents

Almost 75% of Americans think estate planning is confusing, so many are not properly protecting themselves and their families. It is important to think about how your assets and possessions may be distributed one day.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. We suggest that you discuss your specific situation with your financial advisor prior to investing. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk. 

Co-Author: Megan Salcido 


Ally, Staff. “5 Tips to Spring Clean You PersonaL Finances.”, 1 Jan. 2016,

Dickler, Jessica, and Sharon Epperson. “It's Time to Clean up Your Financial Clutter. Here's How.” CNBC, CNBC, 22 Feb. 2018,