Year-End Strategies: Make the Most of 2024 Before It’s Gone

Financial Planning
Written By Kelly Olczak

As the year winds down, this month’s newsletter equips you with timely financial strategies to close 2024 on a high note and prepare for the year ahead. Inside, you’ll find practical advice designed to reduce your tax liability, enhance your financial position, and maximize opportunities for growth.

We start with actionable steps for tax planning, including strategies for harvesting tax losses and gains, which can offset liabilities or strengthen your portfolio. Additionally, we delve into the nuances of Required Minimum Distributions (RMDs), ensuring you avoid penalties while exploring ways to fulfill these obligations strategically, such as through Qualified Charitable Distributions (QCDs).

For those planning beyond this tax year, we highlight the benefits of Roth IRA conversions and Health Savings Account (HSA) contributions. These tools offer unique tax advantages and long-term growth potential, helping you secure your financial future.

In the spirit of giving, we also discuss how to maximize charitable contributions and leverage tax-efficient donations of appreciated assets. Whether you’re funding education through a 529 plan or giving back to causes that matter, these strategies allow you to make an impact while planning wisely.

Finally, we pause to extend our heartfelt gratitude to you, our valued clients. Your trust inspires us, and we’re honored to support your financial journey. This newsletter is not just about financial strategies—it’s a reflection of our commitment to helping you achieve your goals with clarity, confidence, and purpose.

Dive into this month’s insights and let’s make the most of this holiday season together!

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Kelly Olczak https://www.lynnleighco.com
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Navigating Long-Term Care Costs and Market Updates