It’s time for your annual financial health checkup!
Just like it’s important to keep an eye on your physical health, it’s also important to regularly assess your financial health. After all, your finances are connected to nearly every aspect of your life. When your financial health suffers, your quality of life often follows suit. But when your financial health thrives, it can open the door to greater freedom, confidence, and peace of mind.
Maintaining a strong financial foundation takes consistency and commitment. According to a Motley Fool Money survey, 69% of Americans made a financial resolution for 2025. If you’re one of them, now is the perfect time to evaluate your progress. Didn’t make one? It’s never too late to begin your financial wellness journey.
At Crux, we believe in taking a proactive approach to your finances. Here are five areas of your financial health to check in on as a part of your annual financial wellness review.
1. Your Goals
Whether your goals are big or small, your finances play a key role in achieving them. From taking that dream vacation to buying a home, financial health is the driving force behind life’s biggest milestones.
Clarifying your personal and financial goals is the foundation of a strong financial strategy. You can’t figure out a route if you don’t know where you’re going.
Start by asking yourself a few key questions:
- Where do I want to be in six months? A year? Five years? 10 years? 50 years?
- What personal goals are important to me, and how do I want to spend my time? (Do I want to start a family? How often do I want to go on vacation?)
- When do I want to retire? What does retirement look like to me?
2. Where Your Money Goes
Knowledge is power. Budgeting is one of the most powerful tools for gaining control over your financial life. It’s about understanding where your money comes from, where it goes, and whether your spending reflects your goals and values.
A proper budget should empower you to make intentional choices. For example, if family time is a top priority and ordering takeout allows for more quality time with loved ones, that might be a strategic choice, not a financial misstep.
On the other hand, if you’ve committed to cooking at home more often but your Uber Eats receipts tell a different story, that’s a cue to reassess and realign your habits with your intentions.
There’s no one-size-fits-all approach to budgeting. The right strategy for you will depend on your lifestyle, income, goals, values, and life stage.
Ask yourself these questions:
- Where does my money actually go each month?
- How much am I spending in key categories like food, travel, and entertainment?
- Do my current spending patterns support my goals and values, or do they pull me away from them?
- What adjustments, if any, can make a positive difference?
3. Your Emergency Fund
Life is full of surprises. Some are welcome, and others are less so. A job change, a hefty medical bill, or an unexpected trip to the mechanic can quickly derail your finances — unless you have a cushion.
That’s where your emergency fund comes in. It’s your financial safety net, built to absorb life’s surprises without throwing off your entire plan.
The ideal size of an emergency fund varies depending on your lifestyle and responsibilities, but the general rule of thumb is to save three to six months’ worth of living expenses. If that number feels out of reach, start small. Even setting aside two weeks’ worth of expenses is a step in the right direction.
Adding a dedicated line for your emergency fund in your budget can help you stay consistent and track your progress over time.
Ask yourself:
- How much do I currently have set aside for emergencies?
- How much can I realistically contribute to my emergency fund each month?
- What small sacrifices today could lead to greater security tomorrow?
4. Your Investment Strategy
Markets change. So do your life circumstances, goals, and risk tolerance. That’s why your approach to investing shouldn’t be “set it and forget it.” Instead, it should evolve with you.
Your asset allocation should reflect both your short- and long-term financial goals, as well as your comfort level with risk. If you haven’t revisited your portfolio recently, this is the perfect time to take a closer look. Rebalancing your portfolio may be necessary to maintain your target allocation. For example, if your equity investments have grown significantly, your portfolio might carry more risk than you intended.
When assessing your portfolio, ask yourself:
- What has changed for me in the past year? Have I changed jobs, sent a child off to college, or begun thinking more seriously about retirement?
- How much risk am I truly comfortable with?
- Does my mix of stocks, bonds, and cash reflect my current risk tolerance?
- Am I taking advantage of diversification
5. Your Retirement
It’s never too late — or too early — to plan for retirement. The important thing is just to start.
If you haven’t already opened a retirement account, consider this your sign. Options such as 401(k)s, IRAs, and Roth IRAs can help you take advantage of compounding interest, tax benefits, and long-term market growth. Starting small is still starting, and even modest contributions can add up significantly over time.
Already have retirement accounts? That’s great! But it’s still important to review your plan and evaluate whether you’re on track to meet your goals.
Retirement planning is a journey. The key is to take action now and continue adjusting your plan as life unfolds.
Here are some questions to guide your checkup:
- When do I want to retire? What do I want my retirement to look and feel like?
- How often and how much am I contributing to my retirement accounts?
- How are my investments performing?
- Am I maximizing my employer’s retirement benefits?
- Am I on track to meet my retirement savings goals?
Questions to Ask Your Financial Advisor
You don’t have to navigate your financial journey alone. Just as you’d consult with a doctor about your physical wellness journey, you can work with a financial advisor to support your financial wellness journey.
Finances can be complicated. But that doesn’t mean you have to have all the answers. Financial advisors are here to help. A good advisor will help you ask the right questions, explore your options, and build a roadmap aligned with your unique goals, values, and lifestyle.
Whether you’re just starting out or refining an existing plan, here are a few valuable questions to ask your advisor:
- Should I consider any changes to better align with my values, lifestyle, or goals?
- Does my current asset allocation make sense in today’s market?
- Is there anything I’m overlooking or unaware of?
- When should we check in next?
Let’s Create a Plan, Together
At Crux Wealth, we believe that financial planning starts with you — your life, your values, your dreams, and your definition of success.
That’s why we don’t offer one-size-fits-all solutions. We take the time to understand the whole picture. We’re interested in where you are now, where you want to go, and what matters most along the way. With that foundation, we can craft strategies that bring clarity and direction to your financial journey.
Your financial health deserves attention, care, and expertise. It’s never too early or too late to start. Ready to take the next step? Let’s talk. Your future is worth investing in.