• Peter Newman, CFA

Make Up Your Mind Day

Updated: Jun 30

Ah, the New Year is upon us. Every human on earth is breathing a sigh of relief we have reached the end of 2020. We are all ready to begin anew and make some changes, big and small.


We’ve all heard about New Year's Resolutions, but what you may not know is there is actually a day dedicated to making a decision and sticking with it. In fact, that day is today. It is called Make Up Your Mind Day.

December 31: Make Up Your Mind Day Make a decision and stick with it.

The point behind Make Up Your Mind Day is to resolve issues and decisions that have been on hold since January 1st. With the New Year clock counting down, there is no more time to procrastinate. Those minute and second hands on the clock are pointing to you, as if to say “it is time to decide!”


I’ve written a list of the top 5 financial decisions you may have been delaying and suggest you commit TODAY to move one forward.

Flip the switch. Put a plan into action.
The first step to taking action is to make a decision.

1. Get a handle on your budget.

How much are you spending today? Is this too much or too little relative to your saving for the future? If you ignore this question, your retirement lifestyle may be a far cry from your current one.


During the month of January, I will be providing valuable information on how to categorize your spending to feel more in control of your money. There will also be tips on how to track your spending and what to do if your income is variable due to entrepreneurship or bonuses.


2. Take control of your retirement planning.

Are you confident you will have enough saved for a comfortable retirement? Are you on pace to replace your income during your golden years? Many folks contribute to their 401k but they don’t know if that is enough to retire. They haven’t done the calculations. Or just trade away their money on bitcoin and the occasional stock tip. But not knowing is the equivalent of insecurity.


Are your investments growing as they should? Do you know if your investments are keeping pace with your goals? How do you find out? Have a financial plan in place to meet your goals (college for kids, dream car or vacation home while balancing saving for retirement). Guarantee your success by hiring a financial planner to do this for you.


3. Get more healthy.

Did 2020 zap your energy level? Between working from home and exercise facilities having limited capacity, you may be one among many that found themselves in a rut.


Join the most popular New Year’s Resolution and commit to the decision to become healthier. Begin this resolution with the right foot forward to guarantee success. Hire a personal trainer or nutrition consultant by zoom so you can look and feel great when everything reopens in person.


4. Further your education.

Are you dissatisfied with your current job? Are you looking to make a career change but keep putting it off? Have you hit the metaphoric glass ceiling? Invest in yourself by furthering your education.


Consider how much it will cost and how you will feel once you’ve achieved this goal. Also consider what your earning potential may be by meeting this goal. Is the money and time invested going to pay off?


5. Financial security for your loved ones.

Are you comfortable with the idea of your death? Likely, the answer to that is no, but knowing your family will be okay financially with the loss of your income may make you feel a little bit better.


Guarantee peace of mind for yourself by taking steps forward in securing life insurance. Begin by getting a life insurance evaluation to truly replace your income. Tomorrow is never guaranteed.


If you’ve older relatives in your care, you may wish to secure long term care as well.


Final thought.

Make your decision and stick to it. Find success by reaching out to experts or really commit to doing your research.


If you require financial planning, financial investment advice, or help navigating insurances to protect what you’ve built, please reach out to me. I will be happy to help you find success. Schedule a call to learn more today.


However you ring in the new year, stay safe and know I am raising a glass to you from a social distance.



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About the Author

Peter Newman is a Chartered Financial Advisor (CFA) and president of Peak Wealth Planning. He works with individuals nationwide that have accumulated wealth through company stock, ESOP shares, real estate, or running a business. Peter applies his unique background to help clients achieve their specific goals and enjoy peace of mind.


Peak Wealth Planning provides concierge services to meet your wealth management needs. Services include: financial planning, investment management, esop diversification, retirement income, insurance and estate planning advice, Peak Wealth Planning is a fee only financial advisor based in Champaign, Illinois.




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