New Year, New Goals, and (Unfortunately) No More $5 Footlongs

We’re just over two weeks into the new year—how are those resolutions holding up? Hopefully, they’re still intact (or at least on life support). As we reflect on 2024 and look ahead to what 2025 has in store, now is a great time to set some financial goals.

Maybe it’s finally tackling that lingering debt, boosting your emergency fund, increasing retirement contributions, or just getting a better handle on your budget. Especially after the last few years of inflation, where everything—from eggs to entertainment—costs more. Subway’s $5 footlong? Ancient history. Even grocery prices seem to jump every time you blink.

While headlines focus on CPI (Consumer Price Index) at an economic level, what really matters is your personal inflation rate. One of the best exercises you can do right now is to review your annual credit card and bank statements. Where did all your money go? AI can even help you analyze spending trends (yes, robots can help with your budget too), or if you’d rather go old-school, reply to this email, and I’ll send over a handy budget and balance sheet PDF.

Why is this so important? Because planning for a successful retirement isn’t just about saving—it’s about making sure your future self can comfortably afford those monthly expenses, even as costs rise over time. If that sounds a little overwhelming, don’t worry—that’s why I’m here!

📢 Quick Tax Season Heads-Up (Because I Know You’ll Ask)

It’s officially tax season, and this year, we set a new record—I got my first tax form inquiry on January 6th! To save you (and me) a few calls and emails, here’s a breakdown of when to expect your forms:

📌 2024-2025 Tax Mailing Schedule
🗓 1099 Consolidated Tax Statements

• January 17, 24, 31 – Simple accounts

• February 7, 14 – More complex accounts

• February 21, 28 & March 7 – Accounts requiring further issuer data

📌 Other Key Forms & Dates

• 1099-R/Q (Retirement Distributions) – Available today(January 17)

• Preliminary 1099 Consolidated Statements – Available February 14

• 5498 (IRA Contributions) – Sent February 21 & May 23

• IRS Tax Filing & Extension Deadline – April 15

• Schedule K-1 (Partnership Distributions) – Sent by April 15

⚠️ Corrected 1099s – If needed (due to mutual funds, REITs, or cost basis changes), the first round will be issued February 28. A late 1099 is annoying, but trust me, a corrected 1099 is worse.

Stay on top of these dates, and as always, if you have any questions (or just want to vent about taxes), I’m here to help.

Cheers to a financially strong 2025!