As we wind down the year 2005, we wonder where it has gone. For most of us, it's been a busy year filled with much activity and accomplishment. Yet, we have the nagging feeling that there was much more that we should have accomplished. Why is that? Is there a way to do more?

As the article's title suggests, we all have the same amount of time available to us for accomplishing important activities, so why do some people seem to accomplish more? The answer centers on how we spend our time rather than how many things we do. If our time is spent on the really important things, we will tend to accomplish more that is important. By contrast, if we spend our time busily doing unimportant things (and we all do it, admit it), then we will feel we have not done enough.

With that as a philosophical backdrop, let us consider what is truly important. And that is often different than what is presented to us as urgent. While it is urgent that you get the garbage out each week, it is not nearly as important as spending quality time with your children and grandchildren. You get the idea. So, in the overall scheme of life, what outcomes do you wish and what activities are crucial to the realization of those outcomes? That leads us to the promises that you wish to make for 2006 to yourself. Call them resolutions if you wish, but they are inextricably linked to the goals you have for your life.

Here is a list of common financial life goals coupled with the actions necessary for reaching them. Pick those that apply to you and begin to formulate the action steps you will perform in 2006 to guide your life where you wish it to be. And, do not forget that we are here to help! Your financial advisor at Fragasso Financial Advisors is your guide to your life's goals. As we say, "We Guide...You Decide" so please use us to your best advantage.

What is the alternative to planning? It is having no plan. Well, good luck and have a nice life. We believe that proper planning is integral to the realization of important goals. So match your 2006 activities in planning and implementing to those goals in your life that spell fulfillment, and then enjoy the fruits of that activity. A year from now, you likely will be very pleased that you did.

Happy New Year from Fragasso Financial Advisors!

ATTENTION CLIENTS:
Cost Basis on the 1099 for 2005!

Cost basis will be shown on 1099 forms beginning with tax year 2005! The realized gains and losses information will be included with the 1099 Tax Information Statement as a supplemental report for all non-retirement accounts provided the security sold was purchased in the account or the security has updated cost basis information on record. This supplemental report will be provided only to the client. The realized gains and losses information will not be provided to, or filed with, the IRS.

Please contact your financial advisor if you have questions.