While a common reaction to the financial instability of recent years is to take a wait-and-see attitude, hopefully while socking away some money in a safe place, everyone should take at least a day or two each year to review their financial standing. Although you may not need to make a change in every area, it could be worth the time to evaluate your finances to see if you are making the most of your money.

In November 2009, SmartMoney published an article, "Weekend Homework: Financial Reboot," which suggested readers review six areas in their financial lives.

1. Evaluate Your Portfolio. The ups and downs of the stock market left some investors unwilling to open 401K statements at the beginning of 2009. Vanguard reported that 89% of their customers, with retirement plans, made no changes in the first nine months of 2009. Regardless of the state of the stock market, you should at least conduct an annual review of your investment portfolio
2. Assess Your Retirement Plan. Setting a goal and deciding what you need to do to reach that goal may be smart for every soon-to-be-retiree
3. Consider Your Financial Advisor. Think about whether you are satisfied with your financial advisor, or if you are ready to make a change to someone more compatible with your needs
4. Appraise Your Real Estate. Think about whether you are in the right home for now, and for your future. A reverse mortgage could be the right choice for you if you want to sell your home and downsize. A reverse mortgage could allow you to retain access to the cash from your home sale. Compare quotes from different lenders to see if this financial strategy is right for you
5. Refresh Your Cash Strategy. Make sure you have your savings in the right investment vehicle, and evaluate your cash flow. Comparing reverse mortgage options can help manage your current and future cash needs
6. Assess Your Tax Game Plan. Tax laws change every year--make sure you know how your budget may be affected

Use these six steps to evaluate your financial situation this year. By considering each area you can feel comfortable knowing you are financially fit, or perhaps understanding the areas that may need change.