{"id":26583,"date":"2013-05-20t07:44:03","date_gmt":"2013-05-20t11:44:03","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=26583"},"modified":"2015-10-07t11:10:26","modified_gmt":"2015-10-07t15:10:26","slug":"with-busy-season-ended-its-time-for-new-resolutions","status":"publish","type":"post","link":"\/\/www.g005e.com\/2013\/05\/20\/with-busy-season-ended-its-time-for-new-resolutions\/","title":{"rendered":"with busy season ended, it’s time for new resolutions"},"content":{"rendered":"

\"\"<\/p>\n

the end of every busy season means a new beginning for practitioners, which is why we thought this q-and-a was particularly timely.<\/em><\/p>\n

by ed mendlowitz <\/em><\/p>\n

question: <\/strong>do you have any suggestions for the new year?<\/p>\n

answer: <\/strong>checklist of things to do in the new year:<\/p>\n

    \n
  1. stop marking saly<\/strong> next to your new year\u2019s resolutions.\u00a0 make one or two big time life goals resolutions that you will do.<\/li>\n
  2. check your<\/strong> personal insurance coverage. make sure you have adequate uninsured motorist, umbrella, workers compensation at your home and life insurance.<\/li>\n
  3. do some<\/strong> tax planning for yourself.\u00a0 manage investments to benefit from tax savings such as reconfiguring your investments with long term fixed income securities in tax sheltered accounts and equities in taxable accounts, or if actively trading, then putting your trading activities in the tax sheltered accounts.<\/li>\n
  4. get rid<\/strong> of clutter (see checklist below).<\/li>\n
  5. stop being stupid.<\/strong>\u00a0 treat your practice as a business and look at the bottom line.<\/li>\n
  6. don\u2019t deal<\/strong> or work with, jerks.\u00a0 have a \u201cno jerk rule!\u201d\u00a0 don\u2019t suffer fools. don\u2019t waste time with stubborn people who refuse to listen to reason or logic.<\/li>\n
  7. get a will<\/strong> or get it updated, get buy-sell agreement or get it updated, or get a practice continuation agreement if you are a sole practitioner.<\/li>\n
  8. stop texting<\/strong> and dialing numbers when driving. also, slow down \u2013 getting stopped by a patrolman will eat up more time than twenty times of driving within the speed limit. and skip the road rage \u2013 why get mad at an a – – h – – e!<\/li>\n
  9. identify and<\/strong> do your most important thing first; touch things once; do it now \u2013 don\u2019t delay. buy and read my book power bites<\/em> that describes all of these.<\/li>\n
  10. call former<\/strong> partners and friends, brothers and sisters, and others you were once close with to wish them a happy new year.\u00a0 life\u2019s too short to dissipate energy holding grudges against people whose funeral you might go to.\u00a0 clear the air \u2013 someone has to take a first step \u2013 why not you? now?<\/li>\n
  11. go through<\/strong> your pile of business cards and call those up want to stay in touch with or to rekindle a relationship and wish them a happy new year.\u00a0 if you no longer care about that person, throw the card away.<\/li>\n
  12. think healthy<\/strong> \u2013 your body is made to travel a certain mileage with the right fuel, maintenance and care \u2013 maximize that mileage.<\/li>\n<\/ol>\n

     <\/p>\n

    checklist of 28 things to get rid of<\/strong><\/p>\n

    this is a suggested list of what to declutter yourself with.\u00a0 some things can be sold, given away to friends or relatives, donated to a charity or thrown in the trash being careful to shred papers with personal and confidential information.<\/p>\n

      \n
    1. playbills<\/li>\n
    2. reader\u2019s digests<\/li>\n
    3. national geographic\u2019s<\/li>\n
    4. harvard business reviews<\/li>\n
    5. old magazines of \u201chistoric\u2019 nature<\/li>\n
    6. old newspapers of \u201chistoric\u201d events<\/li>\n
    7. your magazine pile you haven\u2019t been able to get to<\/li>\n
    8. stamp, coin, baseball card or similar collection<\/li>\n
    9. art<\/li>\n
    10. books<\/li>\n
    11. high school and college notebooks<\/li>\n
    12. old diaries<\/li>\n
    13. trophies from your childhood<\/li>\n
    14. halloween costumes<\/li>\n
    15. clothing, shoes and hats you haven\u2019t worn in 42 years<\/li>\n
    16. boxes with stuff you haven\u2019t looked at in 12 years<\/li>\n
    17. yours and your kids old bikes that haven\u2019t been used in 17 years<\/li>\n
    18. old tax records, receipts, cancelled checks and brokerage statements (see chapter on what records you should retain)<\/li>\n
    19. old insurance policies<\/li>\n
    20. plastic gift baskets, ribbons and wrapping papers<\/li>\n
    21. dolls and teddy bears that lost their sentimentality<\/li>\n
    22. old pet carriers (you haven\u2019t had a dog or cat for 9 years!)<\/li>\n
    23. expired prescription and over the counter drugs and toiletries and your toothbrush collection from your infrequent dentist visits over the last 50 years<\/li>\n
    24. partially filled liquor bottles you haven\u2019t touched in years<\/li>\n
    25. old cameras<\/li>\n
    26. things and stuff<\/li>\n
    27. consolidate your brokerage accounts<\/li>\n
    28. sell or donate stocks where you own an insignificant number of shares to reduce your mail<\/li>\n<\/ol>\n

       <\/p>\n

      if in doubt \u2013 declutter!<\/p>\n

      \u00a0<\/em><\/p>\n

      is ed on target? how would you answer this question? have a question of your own? email ed here<\/a>, or add to comments below.<\/strong><\/em><\/p>\n

      ed is the author of \u201cimplementing fee increases<\/span><\/a><\/span>.”<\/em><\/p>\n