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5 for Friday (January 14, 2022)

How can you set financial goals you can achieve? Should you leave an inheritance for your children? And how can you make up for lost time if you started investing late?

These questions and more are answered in this week's 5 for Friday.

1. How To Set Financial Goals You Can (Actually) Achieve by Jessica Walrack. The beginning of the year tends to be a time of goal-setting. Financially, think through both short and long term goals. Make sure they are SMART goals: Specific, Measurable, Achievable, Relevant, and Time-Bound. Prioritize your goals, and revisit them regularly.

2. Should I Leave an Inheritance for My Children? By John Piper. Read or listen to this “Ask Pastor John: Podcast, where a listener asks whether it would be wise for them (a couple in their seventies) to leave large inheritances for their children. Piper says to be generous while you’re alive, to remember the dangers of wealth—especially quick and easy wealth—, to be specific and take thought of special needs.

3. Here’s When Tax Filing Season Starts in 2022 by Julia Glum. Tax season is yet again upon us. The IRS will begin accepting and processing tax returns on January 24th. COVID has been a consistent cause of delay for the IRS, so get your taxes done and filed electronically if you want to avoid the delays. Otherwise, you have until April 18th to get our taxes in order.

4. 7 Reasons Why Team Management is Important by Yair Nativ. Managers have always had an influence on the performance of their teams. The rise of remote and hybrid work structures has made the manager’s job more difficult, but all the more necessary. Hiring, employee engagement, culture, and development are just a few reasons quality management is essential.

5. How to Make Up For Lost Time If You Started Investing Late by Robin Hartill. When saving for retirement, it is common knowledge that every dollar saved in your twenties is worth exponentially more than dollars invested anytime afterward. Have you missed out on the compound interest and started late? Well, its not too late, Robin Hartill says, with five tips to kick start your retirement savings.

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