It was recently the season for many crew members to change boats or just come into Ft. Lauderdale for refits, etc. All of our schedules were filled with parties, events and getting the yacht ready for the next trip or that new boat job, not to mention the holidays. We have just finished off the end of another calendar year. Say welcome to 2012.

As I began to review my topic for this month, I thought about what my friends and clients usually ask me about this time of year. How to get organized is a common concern and I actually get a lot of comments and feedback on this topic.

For some, the new year is a kick in the pants for them to get their act together and do something. This is also a time to reflect and take a serious look at the balance on your investment statements and evaluate your success.

Are you on tract to retire? There are calculators that will tell you if you are on track or not. The question is, will you take the initiative to put your information in to see your results?

Over the years I have learned that this seems to be the best time for crew to take care of their personal finances while they are in town. Finding the time to do this can be difficult. So it is up to you to find that time for your review or to start planning your own retirement trip. Sit down and evaluate your portfolio.

There still is a lot of uncertainty in the market. Regardless, this may still be a good time to diversify your portfolio – if you haven’t already – into some investments outside the stock market. I have written on many of them in past columns.

There are many types of alternative investments. Many that I recommend are ones that pay monthly dividends with no market fluctuations. This may be something to look into if you do not have the stomach for market volatility. Make sure you do your homework and ask a lot of questions.

I know this is a busy time but you need to look after yourself as not too many owners will take care of you after you leave their yacht.

Here are some helpful hints and ideas to help you get organized before sitting down with an accountant or financial adviser. Find all your statements from every financial source, especially after traveling all over the world. File them in a folder, not in their envelopes.

If you are self-employed, organize all your expenses for the year.

With investment companies such as those that manage your mutual funds, you’ll get two types of statements throughout the year: a confirmation statement every time you have any type of transaction on your investment (whether it is a dividend disbursement or new money going in), and a quarterly statement that recaps your activities for the previous three months. 

Look over your quarterly statement. If all the transactions from your confirmation statements are on your quarterly statement, shred all those confirmations.

When you get the year-end statement, check to make sure all the quarterly statement transactions are on it, and then shred all the quarterly statements.

This is a good time to begin the process and map out your financial plan. Think about it: All the forms you are gathering for your taxes are the same ones you’ll need for you own financial plan. 

Look back at prior years’  tax returns. Did you overpay and get a refund? Some people see that extra money as a forced savings account, but that is no-interest savings. Consider instead adjusting your tax payments and investing the difference.

You still have a couple of months to make an adjustment this year.

If you choose not to take this task on yourself, determine what specifically you need help with. When talking to people who can help, find out how many hats he/she wears. Is he/she a generalist or a specialist? Talk to several people and ask a lot of questions.

Don’t divulge specifics until you feel comfortable with the person. You must get that feeling of trust before you do anything. This is so important and why I tell everyone that comes through my office that privacy is a priority in my practice as I understand how information travels in the yachting industry. 

Information in this column is not intended to be specific advice for anyone. You should use the information to help you work with a professional regarding your specific financial objectives.