Quarterly Highlights

Year-End Checklist

As the year comes to a close, there’s an endless list of tasks to tackle. Amid the holiday celebrations, school activities, and travel arrangements, it’s also crucial to conduct your year-end financial review. Are your finances in order? Are you on track to achieve your retirement goals? Review some of our year-end suggestions:

• Spend Your FSA dollars. Be sure to use all your Flexible Spending Account funds promptly, as you risk losing them otherwise! If your plan follows a calendar year, ensure your FSA is depleted by December 31st. Visit the FSA Store for eligible products and services.
• Evaluate Your Budget. A lot can change over a year, requiring potential adjustments to your financial strategy. Take a moment to consider any budget items that may need to be added, removed, or modified. If you’re uncertain about where to begin, join the 21 Ways to Trim Your Budget webinar to help you set your financial objectives for the upcoming year.

• Organize Your Finances and Legal Documents. No matter your financial situation, knowing where you currently are can help you with your future goals. Take time each year to review your beneficiaries, calculate your net worth, and make sure your estate documents are up-to-date.

Start the New Year Right!

• Increase your savings. Whether it’s your Workplace Retirement Plan, HSA, IRA, Emergency Savings Account, or all of the above, small, gradual increases can improve your financial situation over the long-term, even leading you to a Cool Million!
• Revisit your investment strategy. When have you last reviewed your investments and asset allocation? If it’s been a while, you might have a different Risk Tolerance. Or, due to changes in the market, it might be time to rebalance. Take time each year to review your investments and ensure that you have a strategy that works for you.
• Set new financial goals. Prepare for a successful year ahead. By setting realistic financial goals, you can create a seamless transition into the new year while improving your financial health and overall well-being. If you need inspiration, check out our recorded webinars or attend an upcoming live webinar. Visit https://u.bpas.com/webinars/ for details.