STUDIO CITY (CBS) — You’ve made several resolutions for 2012, but there is still room for one more!

Larry Palmer from Morgan Stanley Smith Barney visited the KCAL 9 studios Thursday to talk about financial resolutions and building a checklist to make sure your money is right in the new year.


· April isn’t that far off now, start preparing for the tax deadline and prepare to either pay any taxes you may owe, or better, make plans for any refund that might come your way, like making an improvement to your property, adding to your savings or paying down any debts you may have.

· Keep in mind what kind and how much insurance you have (auto, home, life and health) and make sure it reflects your current life situation and needs, especially if you’ve had changes in 2011 such as getting married, having children or acquiring new property.

· Check in on your retirement plans such as your 401(k) and be sure your money is working for you. Don’t leave it on “auto pilot”, sit down with your financial adviser or planner to make sure that your allocations are paying off at an optimum.

· In case of a fire or other disaster, make sure you keep copies of important financial documents such as wills, insurance policies, trusts and other papers somewhere secure with someone you trust such as an executor or trustee.

· If prior election year trends hold, then the stock market may show us reduced performance. Investors should focus on risk, rather than on return, as they assess their investments.

For more financial tips, click here.


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