I had been preparing some year-end financial tips when Sue Stevens for Morningstar put together an exceptional Personal Finance Checklist that is worth checking out.
I agree with the majority of the document except for one thing:
1. She hints at buying/selling mutual funds. Don’t do it! Index, index, index! Remember, end of year is a great time to rebalance your portfolio; however, lots of factors play into your ideal mix—age, tolerance for risk, etc. I’m roughly 70% indexed—USAA S&P 500 Index Fund—with 15% in individual stocks and 15% cash in a money market account patiently awaiting my next move.