Commit to Financial Wellness in 2022

Financial resolutions run rampant this time of year. But please do consider committing to your financial wellness. It’s important with any resolution (financial or otherwise) that you don’t bite off more than you can chew. In other words, set achievable and measurable goals, but limit it to a few, not a dozen resolutions.  Also, ease into the goals…trying to do everything in January is impossible. Achieving any goal takes commitment AND consistency.

There are some pro-active things we recommend our clients focus on in 2022 to improve their financial well-being.  Critical is identifying your starting point (taking a comprehensive financial inventory), along with identifying your gaps, risks and opportunities for wealth building. My retirement planning software is an easy-to-use program that’s very insightful and valuable in this process. The software also allows people to track their spending so they’ll be more likely to improve their financial well-being by knowing what they are spending their money on. The key is to start saving and investing as soon as possible, no matter how old you are.

I believe it’s critical for women especially to commit to educating themselves and improving their financial literacy. Next, they must commit to changing whatever decisions and behaviors have been holding them back from achieving financial independence. I believe that having a financial wellness platform (like Her Retirement) provides structure, process, technology and guidance to help lead women in the right direction. And guess what? We women aren’t afraid to ask for directions. 😊

My software also follows a process I call, Know More. Have More™ in which a woman…

  • First, she must Learn about her money and her retirement.

Did you know that 74% of Americans voluntarily receive reduced retirement income because they don’t know all the facts?            Source: SSA Annual Statistical Supplement

  • Next, she must Envision her life, priorities and goals.
  • Next, she must Assess her finances. What does she have? What does she need? Where are her gaps? Does she need to track her spending (our platform offers a Smarter Spending Tracking Tool)?
  • Next, she must create, or have a Plan created, that fills her gaps (perhaps by a CFP). There are some little known “retirement optimized” strategies that women should understand prior to retirement. The proper planning process identifies these strategies that are appropriate to her situation and gives her an opportunity to fully understand how these strategies work and how they will contribute to her financial independence in retirement. In this planning process, a woman should also understand and make sure the plan addresses all her risks (longevity, taxes, inflation, market volatility, healthcare, etc.).
  • Finally, she must choose how she will Implement her plan…either on her own or with the guidance of a team of financial/retirement professionals.

Everything about the Her Retirement platform has been designed to make your journey from Savings to Security as successful as possible while improving your financial literacy, financial wellness and financial independence. You’ll have access to all the educational content, resources, exercises, analysis, strategies, coaching, planning and advice you need.

If you’re interested in changing your financial well-being, reach out to us. We have RetireMentors who are available to guide you on this important journey…so you don’t have to take it alone. Whether you’re single, suddenly single or a partnered-up woman, financial wellness (aka financial security), isn’t just a dream…it’s a decision.

Here’s some financial goals for you to consider and decide to commit to in 2022. These goals come with some extra incentives due to the world we’re living in currently.


1. Due to Covid, I believe people have extra incentive to boost their emergency savings and not tap into it.

  • Embrace a saver/investor mindset vs. spender
  • By making savings a game, you’re likely to save more. We offer our clients a fun daily savings game and we think our money affirmation cards can help people focus on mind over money, leading to the achievement of their resolutions.
  • Review income and expenses (start tracking spending if necessary)
  • Conduct an audit of everything you spend and try to reduce where you can (call your providers and ask for reduced fees) …we bleed money in many places without even knowing it
  • Conduct a retirement income projection based on desired retirement date
  • Check your credit report/score
  • Reduce Debt
  • Credit Card Debt
  • Mortgage Balances
  • Max out a Health Savings Account (HSA). Requires high deductible healthcare plan
  • Maximize Contributions to Tax-Deferred Plans to your company match
  • 401(k), 403(b), 457 Plans = $19,000/$6000 (catch-up at age 50+)
  • Simple IRA = $13,000/$3,000 (catch-up at age 50+)
  • Have an investment/retirement pro check your 401k allocations
  • Because of inflation, people seem to have more incentive to invest in inflation fighting vehicles like stocks.
  • Consider Portfolio Reallocation
  • Reduce portfolio risk by proper correlation of asset classes
  • It seems with the national debt increasing every day and the cost of Covid, people are more aware and concerned with rising tax rates so there’s increased interest in tax diversification and have savings vehicles such as Roth IRAs (consider Roth conversions), cash value life insurance and Health Savings Accounts (HSAs), which are all great ways to reduce future tax burden.
  • Life insurance is another area where people seem more incentivized to protect their loved ones with a good policy. An Indexed Universal Life policy is very favorable to many people.
  • Consider a job change to increase income
  • Consider starting a side gig to bring in extra income

2. Here’s a few other ideas for goal setting…

  • Focus spending on things that make you happy and what I like to call non-negotiables (decide your big and small spending priorities) and you’re more likely to not overspend.
  • Schedule a money date or dates with your partner to make a money plan. When you have a written plan that you review regularly, you’re more likely to achieve your plan.

3. Because of crypto there’s more interest in investing and learning about investing (which is a good thing). Although I believe crypto is more speculation vs. investment, if you find yourself with a holiday bonus, perhaps you speculate on some crypto. I believe more people will be getting into crypto, which could be a good long-term strategy. I’ll be hosting a cypto 101 class in January. You can email me at to get more info about the class.

4. For people who have shifted from working from an office to working from home, many people can put those commuting costs into savings/investments.

5. Get those Estate Planning documents (such as will and trust) drafted or updated (again, Covid has put this at the top of our lists).

6. With low interest rates, I believe more people will be refinancing car loans and mortgages. A good cost savings measure.

7. Hire a CFP to create a financial plan

8. Hire a Retirement Advisor or contact Her Retirement to get you prepared for retirement BEFORE you decide to retire

2022 is a great year for people (especially women) who are 5-10 years from retirement to get educated about retirement and to start making a plan for how they will create an income for life, while protecting themselves from a possible change in the market (bull to bear) and from rising tax rates and inflation. It’s important that everyone uses All of Your Available Assets when developing a retirement income plan?” This includes:

  • Your Income | Employment, social security, pension, etc.
  • Your Investments | IRAs, 401k, brokerage accounts…
  • Your Insurances | Fixed and variable annuities, whole and term life, LTCi…
  • Your Housing Wealth | 30yr mortgages, reverse mortgages, home equity lines, downsizing, etc.

Ladies, it’s time to get educated, get prepared, and build true generational wealth

Her Retirement is here to help you, and we’re ready to fill the gaps left by all those fellas out there.

Let’s Get Her Done

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