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New Year is time for financial resolutions, too The new year can bring the hope of a fresh start. We often resolve to improve something in our lives when January rolls around. Other than losing 10 pounds, financial New Year’s Erica Feldick resolutions are is a financial adviser with, and common. Many securities and of us have a feelfinancial planning ing we could make offered through better financial LPL Financial decisions, but we Member FINRA/ have no idea what SIPC. Contact her at Jacobson to do or where to Financial Services start. If you want LLC in Cedar Falls your financial life at 266-2445 or to go from good erica.feldick@lpl. to great, consider com. one or more of the following goals as a starting point:

1. Contribute 1 percent more of your salary to your 401(k) plan this year. This small change can make a big difference in the long run. For example, if you make $70,000 gross salary per year and contribute 4 percent of that salary to a 401(k) plan, you are contributing $2,800 per year, or $233 per month. Increase your

contribution from 4 percent to 5 percent, and you’ll contribute $3,500 per year, or $291 per month. That’s an increase of about $50 more each month. In 20 years, assuming a 7 percent rate of return, contributing 5 percent per year gives you $151,589 or $30,214 more at the end of 20 years than making a contribution

moreinformation informationononhow how ForFormore helpgive giveyou youanan ThePrincipal Principal® ®cancanhelp The edge,callcallMathew MathewororKelly Kellytoday. today. edge, ® ® Mathew Driscoll, CFPCFP Mathew Driscoll, Financial Services Representative Financial Services Representative Princor Registered Representative Princor Registered Representative Financial Advisor Financial Advisor

Kelly KellyChristensen Christensen Financial FinancialServices ServicesRepresentative Representative PrincorRegistered RegisteredRepresentative Representative Princor

(319) 266-6270 2302 W. First St., Suite 201E, Cedar Falls, IA 50613 ©2009 Principal Financial Services, Inc. “The Principal,” “Principal Financial Group,” the Edge design, “We’ll Give You an Edge” and the il ustrated character are registered service marks of Principal Financial Services, Inc. Insurance products from the Principal Financial Group® are issued by Principal National Life Insurance Company (except in New York) and Principal Life Insurance Company. Securities offered through Princor Financial Services Corporation, 800/247-1737, member SIPC. Principal National, Principal Life, and Princor® are members of the Principal Financial Group, Des Moines, IA 50392. AD1793 | t100311001e


of 4 percent per year. 2. Trim spending. Many of us can make cuts in this area. January is a great time to take an assessment of last year’s spending and set goals for the new year. If you don’t know what you spend each month, save all the receipts for every item pur-

chased in the last one to three months. If most of your money goes to discretionary purchases such as shopping, eating out, or entertainment, decide how much you’d like to spend monthly on these items and stick to it.

See RESOLUTIONS, page 34

Business Monthly - January 2011  

Getting Credit: Iowa consumers among nation's leaders in paying off bills, cutting use of plastic