In 2025, take inventory of your beneficiaries and contact info

The beginning of the year is a great time to do some easy financial clean-up. Can't remember the last time you reviewed your contact information and beneficiaries on your everyday bank accounts, investments, life insurance policies, and retirement accounts?

It's easy to forget to take a fresh look at these items, especially on accounts you've had forever. Here are a few reasons why you may want to consider reviewing beneficiaries and contact information annually:

• Life Happens - The birth of a new child, or grandchild, a marriage, a divorce - these are just a few examples of common life events that could warrant a beneficiary update. Don't just set it and forget it, make sure your beneficiaries reflect everyone important in your life today instead of years ago when you first opened an account.
• Technology Changes - Don't have a home phone/landline anymore? You're not alone! Lots of folks have done away with the extra costs and simply use their mobile phone as their primary line. However, this could pose some real challenges if a disconnected number is the only one on file to verify your account. Take time to ensure your information is up to date!
• People Move - Moving is always stressful and that change of address form you filled out at the post office may not have made its way to everyone. This is especially true if you've opted for more convenient electronic statements. Financial institutions may also require a formal request from you before they make any updates to contact information such as your physical address, email address and phone numbers.

Want to review your information with Abound? Log in to Online and Mobile Banking* to review your personal contact info.