Part of retiring is re-examining the financial tools I’ve been using while working. I mentioned in a previous post that I cancelled a bank account I’d had for over 40 years to minimize the number of accounts I have to deal with. No more reconciling that account! Today I cancelled a bill pay service I’ve been using for almost as long. When I started using it, the banks didn’t have bill pay services online. I’ve kept the service the last several years because it allowed me to transfer funds between accounts in one business day. Since I’ve minimized my number of accounts, I know longer need that feature either. It will save me $10 a month, or $120 a year. Every little bit helps.
On the flip side, I setup my bank accounts with my investment company to be able to have funds transferred to my bank. While I was completing this task, I updated and verified the beneficiaries on my investment accounts.
We had our second meeting of our financial group last week. The two of us had gotten at least one assigned task done and carried over the others and added some new ones. I like the accountability of the group and getting new ideas for financial management.
What have you done in your financial life lately?