this post was submitted on 30 Nov 2023
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[US] End of year PF tasks (www.kiplinger.com)
submitted 11 months ago by [email protected] to c/[email protected]
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I like to review my financial situation near the end of the year to prep for tax season, give to charity, etc. For any who cannot access the article or are too lazy, here are the things they recommend:

  1. Tax loss harvesting
  2. Contribute to retirement accounts
  3. Convert IRA to Roth
  4. Reassess risk tolerance
  5. Review RMDs - only for 73+
  6. Charitable contributions
  7. Fund accounts for dependents

I check most of these, but more importantly I look at the new limits for 401k and IRA, as well at HSA limits for the upcoming year.

Is there something you like to do financially at the end of the year?

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[–] [email protected] 5 points 11 months ago

As a retiree, my main EOY goal is to manufacture income for ACA and tax purposes. I also rebalance my allocations as needed.