7 Smart Financial Steps to Take in 2016

Is this the year you want your financial picture to shine? We’ve got some good news: There are no tax increases looming, and the banking, housing and labor markets are solid. That means this is the perfect time to shore up your personal finances and prepare for the long haul.

Here are some steps you can implement when opportunity, cash flow, existing debt and mental fortitude allow. Barring a sudden global economic or personal meltdown, you could wake up next January with a satisfied smile on your face.

1. Lower your income; secure your future.

If you’re over 50, consider setting up a defined-benefit plan to reduce