Getty ImagesPersonal finances are top of mind for many households as they get set to ring in the new year.About 38% of Americans ranked financial stability as their No. 1 focus area for 2025, according to a recent Allianz Life survey.CNBC reached out to certified financial planners on its Financial Advisor Council to list their top resolutions for households as they look ahead to the coming year.Here’s the financial advice they offered.Kamila Elliott, Co-founder and CEO of Collective Wealth PartnersKamila Elliott, CFP, is co-founder and CEO of Collective Wealth Partners in Atlanta.Kamila ElliottCreate and stick to your budget! Max out on retirement contributions and create one personal financial goal such as paying off credit cards or investing an additional $100 a month in an investment account.Barry Glassman, Founder and president of Glassman Wealth ServicesCourtesy Barry GlassmanIt starts and ends with knowing where the money is going. I encourage people to track their spending for a period of time, maybe going back to three months’ worth of credit card and Apple Pay payments. It’s incredible what behaviors will change once people just know the truth.Marguerita Cheng, CEO of Blue Ocean Global WealthCourtesy Marguerita ChengI’m going to say estate planning. It’s important for everyone to address — even for an 18-year-old heading off to college in Fall 2025. I had my daughter complete a health care and financial power of attorney before I sent her off to college.If people feel overwhelmed with the estate planning process, I remind people that it’s a process. Start with a financial and health care power of attorney.You can then focus on beneficiary designations. Next, a will and trust, if the trust is appropriate for your situation. This process also helps individuals track down retirement plans from former employers. Estate planning is a wonderful opportunity to revisit life insurance as well.More from Personal Finance:What it would cost to live like the ‘Home Alone’ family todayOnly 21% of workers contribute to a Roth 401(k)’Higher for longer’ interest rates benefit cash accountsLee Baker, founder, owner and president of Claris Financial AdvisorsCourtesy Lee Baker1. It’s not a popular subject but take the time review all your insurance coverages: Auto and home in particular have jumped significantly for many people. Don’t forget about disability and life insurance. As long as you can get up and earn a living, you can replace your car or rebuild your home. What happens if you can’t generate an income?2. Spend some time reviewing your tax strategies and retirement planning: Required minimum distributions: Do you ‘need’ them? Would making Qualified Charitable Distributions improve your overall picture?Tax loss harvesting: Here’s an opportunity to improve your overall portfolio performance.Employee benefits: Are you fully taking advantage of a health savings account (if available) and retirement plan contributions?3. Review your cash flow:I
Gio. Gen 9th, 2025
