Dec 21, 2016

#15: Year End Priorities

Show Notes


With the new year quickly approaching, Hogan presents seven financial priorities for you to focus on. Hogan also discusses the savings crisis in America, research uncovered in a survey commissioned by Ramsey Solutions. Other featured segments include Hear from the People, Retire Inspired Christmas poetry, and Hogan’s patented 3-Point Takeaway.


0:28 – WELCOME




Chris offers seven actions to take:


Assess your debt. Understand what you owe and where you owe it.


Revisit your budget. Sit down and determine exactly where your money goes each month.


Review your retirement accounts. Do you have any 401(k) accounts from a former employer that need to be rolled over into an IRA? If so, make sure the money transfers directly between accounts.


Check your insurance policies. Review your current life insurance policy to make sure you have the coverage your family needs. If you have questions or need help, go to and click “Dream Team” to connect with one of our insurance ELPs. These are people Hogan trusts.


Update beneficiaries. Now is the time to make changes to the designated beneficiaries you’ve named in your will and other legal documents, including your investment accounts. You can update these by filling out a form for 401(k)s, IRAs, life insurance policies, and other plans. Check with the providers of these accounts for the correct paperwork.


Look at income tax withholdings. Each year, you want to know exactly where you stand on your income taxes. Don’t let this to sneak up on you in March. Go to and click “Dream Team” to get connected with one of our tax ELPs. They have the heart of a teacher and want you to avoid any hassles from the IRS.


Review your portfolio. Set up an appointment with a financial professional to review your investment portfolio. If there’s anything you don’t understand—from the fees you pay to the types of funds you’re building—ask questions. You are in charge of your financial future, so you’re responsible for understanding your investments.


Here are three bonus actions:


Do medical check-ups. This is an area many people forget. Before the end of the year, take advantage of all yearly check-ups that you have paid for throughout the year through your insurance premiums. Do you need an eye exam, a physical, or other medical exams? If so, get an appointment and go before December 31. Also, be aware of your healthcare costs and expenses. Does your current policy meet your needs? Is there a way to get the same or better coverage at a lower cost?


Update wills and trusts. A common misconception is that you only create and talk about a will one time. People are not aware that you can update your will as many times as you want, as long as the updates are properly witnessed and notarized according to your state law. Also, you may want to talk with an estate planning attorney to see if a trust makes sense for your situation.


Set new goals. The new year brings new opportunities for everyone. Be clear on what you want to achieve financially, physically, spiritually, and as a family. The only way to be proactive is to put the goals in writing and take steps to reach them.




Don’t forget about Hogan’s Christmas Bundle. Go to and get 56% off an amazing product bundle for the holidays.


Send us your personal halftime speech for Coach Hogan to read on air. Also, send in your retirement poems for Hogan the poet to share with you (beanie and jazz music included). Email us at




This episode features a special poem sent in from a VIP. Off comes the beanie, and on goes the Santa hat as Hogan reads the Jones’ Christmas poetry. 




Hogan discusses findings from the survey commissioned by Ramsey Solutions. He discusses the top four reasons people are not saving for their retirement dreams:


1. Cost of living


2. Credit card debt


3. Mortgage payments


4. Medical expenses


Check out the full survey at




Hogan reads listener emails:


A government worker has a Thrift Saving Plan (TSP) and Roth IRA retirement question.


A 27-year-old married man is debt-free. His wife is not employed. With money in savings, he wants to buy a home.


A disabled veteran receives a monthly disability check. Though he is employed, he wants to know if his disability money should be considered guaranteed income.


A 38-year-old woman has a question about a $100,000 indexed annuity.




Hogan gives his patented 3-Point Takeaway and connects it to his year-end financial priorities for you.




What kind of stories of generosity will you be able to tell with your life when you are in control of your finances and retirement dreams? Hogan shares a couple of articles on generosity for a final 2016 challenge for you.




Go to to discover your R:IQ. While you’re there, click “Dream Team” to connect with SmartVestor Pros for investing help. You can also find Endorsed Local Providers (ELPs) for insurance, tax and real estate services.


Email us your retirement dreams or wins as well as your Coach Hogan halftime speeches and retirement poems. Send them to