Week 01 Day 01 - SMART GOALS
Lower Credit Utilization Percentage
Specific: Lower my credit utilization percentage to 10% or below.
Measurable: Track the credit utilization percentage on each card and ensure it reaches 10% or below.
Achievable: Pay down credit card balances by strategically focusing on high-interest and high-balance cards.
Relevant: Reducing credit utilization will improve my credit score and financial health.
Time-bound: Allocate specific amounts from my budget weekly until the goal is achieved.
Speak with a Tax Professional
Specific: Speak with a tax professional regarding the tax implications of pulling money out of my 401ks.
Measurable: Have at least one detailed conversation with a qualified tax professional.
Achievable: Research and schedule an appointment with a tax professional within the next two weeks.
Relevant: Understanding the tax implications is crucial for making informed financial decisions.
Time-bound: Complete this consultation within the next month.
Obtain a whole life insurance policy.
Specific: I will use funds from my CD and 401(k) to pay for the policy premiums. I will consult with a tax professional to understand the tax implications and penalties of these withdrawals. Mr. Brooklyn Business will put my life insurance policy together for me.
Measurable: I will assess my insurance needs with Mr. Brooklyn Business and calculate the estimated funds needed from the CD and 401(k). I will also confirm the policy details and costs.
Achievable: I will verify that the available funds in my CD and 401(k) are sufficient for the policy premiums and understand the tax implications with the help of a tax professional.
Relevant: This policy will support my long-term financial planning.
Time-bound: I will consult with a tax professional within 60 days. I will apply for my policy within 90 days with Mr. Brooklyn Business
