We are fast approaching the end of the calendar year, and this is a good time to review your finances and ensure that they are in good order. Primarily, you should go over the contributions to retirement plans and consider adjustments if needed. This is also a time when you should start thinking about an upcoming tax season and make financial moves that may make your tax burden lower. Finally, check the activity on your accounts and verify that your score with credit reporting agencies is as expected.
- Pay attention to health insurance deductibles and FSA balances, and make adjustments in health care spending if possible.
- Prepare for tax time prior to the end of the year, keeping track of relevant receipts and documents.
- Consider your retirement plans and adjust savings if, for example, you receive a large year-end bonus.
“Williams is a founder of and a wealth advisor with the Williams Financial Group in Kansas City, Missouri, so she knows about such things.”
Read more: https://www.nerdwallet.com/article/finance/net-worth-yearend-checklist