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Your Year-End Financial Plan Checklist Part 2

Paul Brown | Nov 6, 2025

With the demands of work, family, and everyday life, it’s easy to let retirement accounts run on autopilot. Unfortunately, this “out of sight, out of mind” approach can lead to missed opportunities and costly mistakes. As the year wraps up, take time to review these key items to ensure you’re making the most of your savings strategy:

• Review Your 401(k). 

If possible, aim to contribute the full $23,500 limit for 2025, or at least enough to capture your company match — don’t leave any “free money” on the table.

 

• Take advantage of catch-up contributions.

If you’re age 50 or older (or turning 50 in 2025), you can contribute an extra $7,500 to your 401(k). This can make a significant difference in your long-term savings.

 

• Stay compliant with required minimum distributions (RMDs).

If you’re age 73 or older (or turning 73 in 2025 under current law), confirm that you’ve taken the correct RMD from your IRA or retirement plan to avoid unnecessary taxes and penalties.

 

• Don’t overlook your spouse. 

Even if one spouse doesn’t work, you may still be able to make a spousal contribution to a traditional or Roth IRA — a great way to build retirement savings as a couple.

 

• Review your Health Savings Account (HSA) and Flexible Spending Account (FSA).

If possible, aim to contribute the HSA maximum: $8,550 for families and $4,300 for individuals in 2025. For FSA, review the rules on what you can roll over to 2026 and plan to use the rest. 

 

A little attention now can go a long way later.

If you’d like help reviewing your retirement contributions, RMDs, or long-term savings strategy, our team can walk through the numbers and help ensure every dollar is working for you. https://www.connected-wealth.com/next-steps.

Connected Wealth Management

4777 Sharon Road,
Suite 540,
Charlotte, NC  28210

Main: 704-912-5088
Text: 704-686-8445
Fax: 980-972-0787
Email: paul@connected-wealth.com

     

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