Just Starting Out Checklist

This checklist is designed with a goal to simplify and organize the transition from financial dependency to financial independence. The list represents an initial examination of financial issues like maximizing your new employer’s benefits package, budgeting, debt, investing or purchasing your first home. Making sound financial decisions early in one’s career is important in laying the road map to a successful financial future.

 

Employee Benefits

  • Retirement plan
  • Health insurance
  • Health savings account
  • Flex spending account

Cash Flow Analysis

  • Short-term and long-term goals
  • Emergency fund

Review of Outstanding Debt

  • Student loans
  • Credit cards
  • Auto loans

Investing

  • Time horizon
  • Investment strategies
  • Risk tolerance
  • Diversification
  • ESG

Purchasing First Home

  • Revised cash flow projections
  • Financing options
  • Private mortgage insurance
  • Other expenses

Insurance Review

  • Life
  • Auto, umbrella, homeowners/rental
  • Medical/dental
  • HSA and FSA
  • Disability