With happy holidays come distracting deadlines. Our gift to you: wrapping them up in this year-end guide.

September 27, 2018

The merriment of the holiday season also brings some breathing room into our lives. Use this time time to work with your advisor, tapping into tax-deferred growth opportunities, tax-advantaged investments and charitable giving opportunities, among other strategies. In the blink of an eye, 2019 will have arrived, so set defined financial goals for the coming year.

Fall 2018 Market Closures

Thursday, November 22: Thanksgiving Day
Tuesday, December 25: Christmas Day

Planning To-Do’s

Confirm cost of living: Next year’s cost-of-living adjustment is typically announced in October.

Adjust your coverage: Prepare your documents for Medicare open enrollment, if eligible.

Plan accordingly: Ask your advisor to coordinate with your tax advisor and attorney to address year-end financial and tax planning.

Consider retirement: New retirement plan contribution limits come from the IRS. Adjust your contributions appropriately.

Perform a portfolio review: If you’re invested in mutual funds, don’t forget about important capital gains distributions dates that typically fall in mid-December. Consider balancing where appropriate.

Heed donation deadlines: Remember deadlines for year-end gift and charitable contributions. Be sure to allow enough time to complete donations, keeping tax limitations in mind.

Prepare to harvest tax losses: Review and implement year-end tax planning decisions for the upcoming tax season, then rebalance for tax efficiency.

Consider your consultants: You’re likely to pick up investment tips around the holiday party punchbowl. No matter the source, take the cautious path: Consult your advisor before acting.

Finesse 2019 financial goals: Reassess retirement savings and work with your advisor to make adjustments, if needed.

A-Plan-for-All-Seasons-Fall
A Plan for All Seasons: Fall 2018

Raymond James financial advisors do not render legal or tax advice. Please consult a qualified professional regarding legal or tax advice. Investment products are: not deposits, not FDIC/NCUA insured, not insured by any government agency, not bank guaranteed, subject to risk and may lose value.

By | 2018-10-01T14:18:37+00:00 October 1st, 2018|Goal Planning, Latest Articles|