It seems like summer always flies by. Here we are at the end of August and heading toward the last quarter of the year. You may have taken a break concentrating on your financial goals to spend more time with family, traveling and just enjoying the opportunities the summer months offer which is good to do – But now might be a good time to talk about some end of year planning.
- If you got away from doing a budget for the month, you might want to get back on track, so you can see where your spending is going.
- Check to see if you are on track with maximizing contributions to retirement accounts like your 401k, IRA and SEP IRA before the end of the year.
- There are benefits to charitable giving… including tax deduction. It is a good idea to explore some ways to cut taxes and give to a good cause.
- Open enrollment for Medicare and State ACA Marketplaces Coverage start in the fall. It is smart to review your current health plan to see if the plan you have in place is still working for you or if it needs to be changed due to your circumstances. There are usually representatives in your community that are knowledgeable and can help with the decision process.
- It is also a good time to review wills, POA’s, and life insurance policies. Be sure they are still up to date and the way you want them.
Hopefully you had an enjoyable summer and are ready to welcome fall and everything it has to offer.
If I can be of help… Please let me know and feel free to reach out. 814-931-1043