When was the last time you had a financial checkup?
We visit the doctor for routine checkups. Once a year, the doctor examines our vitals and checks to make sure everything’s in working order. If any red flags show up, we can take immediate action to fix the problem or educate ourselves on the issue. The same is true with our financial health.
Economic, personal, and professional factors change on a regular basis. And yet, many of us don’t take a close look at our finances. We don’t schedule routine checkups. The result can be an outdated strategy or overlooking concerning signs. That's why it's important to review your financial position. Understanding how to evaluate your finances and address any potential issues is key to maintaining a healthy financial life.
To check your financial health and position, consider three broad categories: financial education, critical financial information and partner preparedness. If you can confidently understand and answer questions related to these categories, you're on the right track. However, if you find yourself struggling, it may be time to dive deeper and take charge. Let's explore each of these categories in more detail.
NOTE: IMPORTANT INFORMATION
Comerica Wealth Management consists of various divisions and affiliates of Comerica Bank, including Comerica Bank & Trust, N.A. and Comerica Insurance Services, Inc. and its affiliated insurance agencies. Non-deposit Investment products offered by Comerica and its affiliates are not insured by the FDIC, are not deposits or other obligations of or guaranteed by Comerica Bank or any of its affiliates, and are subject to investment risks, including possible loss of the principal invested. Comerica Bank and its affiliates do not provide tax or legal advice. Please consult with your tax and legal advisors regarding your specific situation.
This is not a complete analysis of every material fact regarding any company, industry or security. The information and materials herein have been obtained from sources we consider to be reliable, but Comerica Wealth Management does not warrant, or guarantee, its completeness or accuracy. Materials prepared by Comerica Wealth Management personnel are based on public information. Facts and views presented in this material have not been reviewed by, and may not reflect information known to, professionals in other business areas of Comerica Wealth Management, including investment banking personnel.
The views expressed are those of the author at the time of writing and are subject to change without notice. We do not assume any liability for losses that may result from the reliance by any person upon any such information or opinions. This material has been distributed for general educational/informational purposes only and should not be considered as investment advice or a recommendation for any particular security, strategy or investment product, or as personalized investment advice.
