Start Your Year On The Right Track

By Rob Wrubel, CFP^®

Life with special needs family members takes extra time, patience and money. There are trips to therapies, doctors and schools that typical families do not have. Taking someone out for a trip to the supermarket who cannot walk or has difficulties moving takes twice the time for another person.

Do not let the additional pressures and challenges stop you from making some critical decisions. This is the beginning of a new year. If you have not already, take 15 minutes to right out a few goals for the year.

As a financial planner, I recommend some of the following:

Meet with an attorney to discuss a special needs trust

Start building your emergency fund. You will want three to six months of funds sitting in an account

Review your life insurance policies

Save in your retirement plan at work

Reduce your debt

Use a monthly budget

Review your options for funding your special needs trust

There are many more financial and legal actions to consider. Choose five that are most important to you and get started.

Maximize your charitable donations of time and money

Ideally, you have a comprehensive financial plan in place that covers your retirement, special needs trust funding, charitable intentions and other life goals you may have.  If not, make that the number one item on your list for 2010. Make sure to find a Certified Financial Planning practitioner who understands and specializes in special needs planning.