Cannon Wealth Management Maintaining Financial Organization

With a strong, 20-year reputation of excellence and true consideration for their valued clients, Cannon Wealth Management in Winston-Salem knows the value of personal service. Especially with our finances, there can be a lot of “head versus heart” when it comes to saving, spending, and investing, and this professional team strives to understand every client’s goals and dreams. That might mean striking a beneficial balance between saving for retirement and enjoying life in the present, as well!

Offering a comprehensive financial menu of services that includes investments, risk management, tax planning, cash flow management, retirement planning, and estate planning, that difficult first step is often a simple matter of knowledge and organization. Here’s a three-part plan they recommend:

ORGANIZE YOUR RECORDS

If you’re currently gazing at a stack of papers that you consider the “keep” pile, because you know important documents are hiding in there, that’s a (tiny) first step! Now sit down, and calmly coordinate those papers by subject: household bills, insurance policies, bank accounts, brokerage accounts, retirement accounts, vehicle information including personal car, RV or boat titles, medical receipts, appraisals of any jewelry, artwork, or antiques, leases for safe deposit boxes or storage units—you get the idea. Place those sorted piles in nice folders (cheery colored ones if it helps you feel more positive!), or a simple binder, and then think about a permanent storage spot. That might be your desk, a fire-proof storage box, or a filing cabinet you can easily access. It’s also wise to have a back-up of your important information, such as a secure digital vault—ask your Cannon Wealth adviser about eMoney.

CREATE YOUR EMERGENCY PLAN (ICE)

Think of this as an “In Case of Emergency plan” for your essential information, including where you keep it, and who should have access to it. This all-important list needs to include a living will, life insurance policies, 401K account details, list of bank account numbers, list of all user names and passwords, your personal medical history, and healthcare/financial Power of Attorneys (POA), necessary authorizations to release your personal medical information, marriage/divorce certificates, and all vehicle titles. If the unexpected happens and you aren’t able to communicate, having these important documents within easy reach will ease the emotional toll on the rest of your family.

COMMUNICATE WITH YOUR LOVED ONES

Not always the easiest of conversations, having important documents and details in order while all the parties are healthy and of sound mind and body is the best way to approach your financial profile. Carefully consider who you want to be the executor of your will and to handle your healthcare choices, and make sure all family members are aware of your wishes. All that information needs to be in writing, notarized preferably, with the appropriate account passwords, phone numbers, and e-mail addresses of all parties, so that a stressful family time can be handled easier. Remember, your ultimate goal has always been to protect your loved ones, and that mission continues to be number one!

To establish and nurture your own financial well-being, contact Cannon Wealth Management, located at 2160 Country Club Road in Winston-Salem. Reach them at 336-231-6844, or visit Cannon-Wealth.com, where you can schedule a consultation with one of their financial advisors. Also, be sure to like their page on Facebook and follow them on LinkedIn, Twitter, and YouTube. 

 

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