This is the time when many people set goals for the upcoming year. Whether it’s to eat healthier, exercise more, lose weight or something else, the beginning of a new year is a great time to set new goals.

As you consider your goals for the new year, give some thought to your personal financial situation as well as your health and wellness. Here are five financial goals to consider setting for 2021.
2021 has gotten off to a slightly bumpy start, as the first trading day of the year featured one of the largest sell-offs in U.S. stocks of the past several months, subsequently followed by a strong recovery rally.

Tax Season Tip:
529 Contributions can be deducted from state income taxes
Now that it is January, tax documents from 2020 will be arriving in the mail soon. As a reminder, contributions to 529 Plans generally allow a state income tax benefit. Typically, this is a deduction against state income tax up to a certain amount, but the tax benefit varies among states. Because there are no 529 Plan tax forms for contributions, this tax benefit can easily be overlooked. If you make a contribution to a 529 Plan, make sure you provide your tax preparer with a copy of the December 31, 2020, statement, which should show the amount contributed to the account for 2020. 
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