2023 Year End Checklist

Create Your 2024 Budget

Creating a budget starts with knowing where your money is going. Check out our Budget Made Easy Course. Use code: plan2023 at checkout.

Contribute to your Retirement by 12/31

Most company retirement plans have a 12/31/23 due date for contributions.

Consider A Roth Conversion

A Roth conversion is a way to convert your pre-tax retirement assets into a ROTH IRA. Before you do this, consult with us and/or your tax advisor.

Review Your Investments

If we’re managing your assets we already have an eye on your asset allocation and on rebalancing your portfolio. Otherwise, that’s something that may need your attention.

Review Your Beneficiaries

Family dynamics change. It’s important to review your beneficiaries' insurance policies and retirement accounts to make sure that the beneficiary designations reflect your current intentions.

Harvest Tax Losses

In non-retirement accounts did you know you can write off some investment losses against realized investment gains? If we manage your non-retirement accounts, there’s a good chance we’ve been harvesting losses throughout the year.

Check your flexible spending account (FSA) balance

Check your FSA balance and consider spending funds that cannot be rolled over to the following year. With the remaining balance, consider stocking up on approved items.

Complete Open Enrollment for Employer benefits

The fourth quarter marks the beginning of open enrollment. Ensure you have the right amount of coverage for life and disability insurance. Review and update health insurance options as necessary.

Get a free copy of your credit report

If you haven’t checked your credit report lately this is a good time to do so. You can get a free credit report annually at www.annualcreditreport.com. Regularly checking your credit is a good way to spot errors or any evidence of identity theft.

Give to Others

Don’t forget to get your year-end giving in! Giving is a values-driven endeavor. When you are intentional about giving to a charity, mission, or non-profit that you strongly support, it gives added purpose to manage your finances wisely. That purpose serves as motivation and has the ability to drive you to make better and more prudent spending decisions.

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