Put it in Writing... When it comes to mastering your money, people who commit their financial goals to writing are more likely to be the most successful in achieving financial security.

Review... Major areas of your financial life which need to be reviewed on an annual basis include:

n   Insurance – Life, health and disability.
n Investments – Home, real estate, savings and retirement accounts.
n Tax Management –Shield income from the tax man
n Estate Planning – Wills and other wealth-preservation techniques

1. Determine how much money you will need to live on (typically 70% to 80% of your pre-retirement income).

2. Take advantage of saving plans that offer tax breaks, such as 401(k) plans and individual retirement accounts. (Friday offers a 401(k) plan.)*

3. Make regular contributions to savings and investments. A 401(k) plan is the easiest way to invest and save since the contributions are made every payday with pre-tax money, and are frequently matched by your employer.*

4. Divide your savings between stock and bond investments. A common rule of thumb is to put a percentage equal to your age in bonds and conservative stock investments and the rest in stocks and stock mutual funds.

5. Don’t be overwhelmed. Start saving what you can and plan to increase your savings on a quarterly or annual basis. Most important is to start now, not one, two, or more years in the future.

Teach Your Children Well... 60% of parents say their child has approached them with questions about financial matters. Would you know the answers? The American Savings Education Council provides user-friendly educational materials on the need to save, setting savings goals, basic steps to achieve savings goals, and answers to frequently asked financial questions. Visit their family-friendly website at www.asec.org.