Your Essential Year-End Financial Checklist: Stay Organized with a Touch of Humor

Financial Planning
Written By Kelly Olczak
Kelly Olczak Contact Information

As the year winds down, it’s time to get your financial house in order. Our Year-End Financial To-Do List is here to guide you through the critical steps to ensure your finances are on track and ready for the new year. From reviewing your investment portfolio to making last-minute tax moves, our checklist covers everything you need to do to make the most of your financial opportunities before the calendar flips.

Start by taking a close look at your investment accounts. Are they aligned with your long-term goals? Consider rebalancing your portfolio to maintain your desired asset allocation. This is also an ideal time to harvest any losses for tax purposes—offsetting gains with losses can be a smart move that saves you money in April.

Don’t forget to review your retirement accounts. Maximize your contributions to your 401(k), IRA, or other retirement plans. These contributions not only boost your retirement savings but can also provide valuable tax benefits. If you’re 50 or older, take advantage of catch-up contributions to give your savings an extra boost.

Charitable giving is another essential task on your year-end financial to-do list. Not only does this allow you to support causes you care about, but it can also offer tax advantages. Make sure your donations are completed before December 31st to count toward this year’s deductions.

Finally, update your financial documents. Review your will, beneficiaries, and estate plan to ensure everything is up to date and reflects your current wishes. Taking these steps now can provide peace of mind and set the stage for a financially secure new year.

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Kelly Olczak https://www.lynnleighco.com
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