The following checklist is a recommended plan of action to follow before meeting with a financial advisor at Nexus Advisors. When you are ready to discuss the next steps, click here to contact us.

  • Build an emergency fund of 3-6 months living expenses

  • Develop a monthly and annual budget that divides expenses into “required” and “desired” expenses

  • Pay off credit card balances each month, and write down a firm and detailed plan to pay off your balances

  • Work with your lawyer to draft a Last Will and Testament, a Power of Attorney and a Medical Power of attorney to provide legal arrangements in the event of death or disability

  • Have a plan to replace income in the event of losing income due to an extended sickness or accident

  • Calculate the amount of life insurance needed to pay off debts, replace income or other support to children or dependents, in the event of death. Confirm that you have enough life insurance to cover this need

  • Evaluate your risk tolerance for investment risk and have an investment plan that matches your needs

  • Contribute the maximum to your company sponsored retirement plan

  • Roll over any old employer retirement plans into an IRA