Your Year-End Financial Plan Checklist

Paul Brown |

With 2025 wrapping up and the holidays right around the corner, now is the time to take stock, make strategic adjustments, and ensure your financial plan is aligned for the year ahead. Thoughtful year-end planning can help you lower taxes, boost savings, and start the New Year with confidence in your direction.

For the next several week, we’ll cover the following key areas of your financial plan to review before December 31st.  

  1. Review Tax Picture
  2. Retirement Contributions & Distributions
  3. Cash Flow & Reserve Savings
  4. Investment Allocations
  5. Estate Plan Documents
  6. Insurance Coverages
  7. Charitable Giving
  8. Education Expenses

  9. Financial Goals for 2026

     

Most people are good at being tax-compliant but what if there were ways you could be strategic? Let’s start with a proactive look at your tax situation and a few key items to consider before year end.

  • Estimate year-end tax liability with your CPA to avoid any nasty surprises.
  • Review taxable accounts for opportunities to harvest capital losses that can be used in future years to offset any capital gains.
  • Consider Roth conversions while you know your current tax bracket — future rates may be higher.
  • If you’re self-employed, review your quarterly payments and explore any potential 401(k) or SEP IRA contributions to lower taxable income and increase retirement savings.

 

If you’d like to explore how these strategies fit into your current financial plan, we’d love to help. Reach out to us at https://www.connected-wealth.com/next-steps.