You need examine your retirement contributions and make them! Consider rolling bonuses to your retirement. Convert Traditional Roths to Roth IRA’s. The advantage of this is you will be able to pay taxes now and let them grow at a tax free level. Do some tax planning with your advisor to take advantage of any losses that you might have to offset any gains you did have. Review your insurance policies and who your beneficiaries are. They might need to be changed.
- Check on your retirement contributions and make sure you are contributing the max for your age.
- Convert Traditional Roth’s to a Roth IRA, you will pay taxes now but the growth will be tax free.
- Review your life insurance and your beneficiaries. Also look over property insurance and long-term care insurance.
“If it’s not too early for stores to put out Christmas decorations, then it’s not too early to think about year-end financial planning.”