Smart Financial Moves to Make Before Year End

Sponsored Partner Post: Edward Jones

As the year winds down, it’s time for a financial tune up.

Here are some steps to consider:

If you’re 73 or older, you’ll need to take required minimum distributions from traditional retirement accounts to avoid a 25% penalty on any amount you should have withdrawn but didn’t.

And if you’re still working, consider ramping up your pretax retirement contributions. Not only will this help your future self, but it might reduce your current tax bill.

Now is also a good time to review your investments. Did they perform as expected? Do they still match your goals? You may need to rebalance.

One more thing: If you’ve had major life changes like marriage, divorce or a new baby, review the beneficiary designations on all bank and brokerage accounts. These often override what’s written in your will.

Taking care of these and other financial tasks now can help you start the new year on solid ground.

This content was provided by Edward Jones for use by Tracy Milanese, your Edward Jones financial advisor at 602-265-3437.

Edward Jones, Member SIPC