401(k)s – Relax, It's Retirement Podcast

Is Your End-of-Year Financial Checklist Ready? (Ep. 29)

By Relax It's Retirement-Podcast | November 28, 2023

The end of the year is the perfect time to take stock of your personal finances and make any adjustments that need to be made.

From catching up on retirement contributions to making charitable donations, you have a bit of time left to get everything in order before 2024.

In this episode, Josh Leonard explores end-of-year financial planning. He dives into assessing asset and debt issues, understanding tax implications, maximizing contributions to tax-advantaged accounts, and more. Josh also explains the benefits of gifting money to avoid estate taxes and the importance of financial aid planning for children or grandchildren attending college.

Josh discusses:

The need to look at taxable investment accounts and making end-of-year moves
The importance of taking required minimum distributions (RMDs) for individuals turning 73 this year
Tax planning strategies
The importance of maximizing contributions to accounts like HSAs and 401(k)s by the end of the year
The need to review insurance plans during open enrollment and update estate documents in light of any family changes or additions
The importance of considering financial aid planning strategies for college-bound kids
And more!