Finish Strong: The Year-End Financial Checklist You’ll Actually Use

Here we are in October already, friends.  As the final quarter gets underway, October is when reflection meets action. The goals you set in January are worth revisiting — especially the ones tied to your money, taxes, and long-term plans.

Before the year-end rush begins, let’s carve out a little time for future you.

Maximize Retirement Contributions

If you haven’t checked your 401(k), IRA, or other retirement plan contributions lately, October is the perfect time. Even small increases now can make a real difference.

• 401(k): The 2025 limit is $23,500, plus a $7,500 catch-up if you’re 50 or older. Ages 60–63: Thanks to a new SECURE 2.0 Act rule, you can contribute up to $11,250 extra—a total of $34,750.
• IRA: You can contribute $7,000, or $8,000 if you’re 50 or older.
• Self-employed: A SEP IRA or Solo 401(k) might give you even more flexibility before filing deadlines.

Maximize HSA Contributions

Your health savings account (HSA) is one of your most tax-efficient tools. It offers triple tax advantages: pre-tax contributions, tax-deferred growth, and tax-free withdrawals for qualified medical expenses.

So, before the year-end, check to see if you’ve contributed the full amount for 2025. Not only can this help lower your taxable income, but unused funds can also stay invested and grow for future healthcare expenses, even in retirement.

You can still make 2025 contributions until the tax filing deadline comes next April, but topping off your account by Dec. 31 helps keep you on track.

Use Flexible Spending Dollars

If you have a flexible spending account (FSA), now’s the time to check your balance. Many are “use it or lose it” so now’s the time to book appointments or stock up on eligible items.

Revisit Charitable Giving Plans

If giving back is part of your plan, map out your donations before the holiday rush. Gifts made by December 31 can count toward this year’s deductions.

• Donor-advised funds (DAFs): Give now, decide later.
• Qualified charitable distributions (QCDs): If you’re 70½ or older, you can donate directly from an IRA, satisfying part of your required minimum distribution.
• Appreciated stock donations: An effective way to give while potentially avoiding capital gains.

Heads up: Beginning in 2026, non-itemizers will be able to deduct up to $3,000 in charitable gifts.

Check Your Tax Picture

A quick check-in now helps prevent springtime surprises. Review your income, deductions, and withholdings to make sure you’re on track.

If you’ve had a major change, like a new job, marriage, or property sale, it’s worth a closer look.

Reflect, Refresh, and Regroup

Financial planning isn’t just about checking boxes. It’s about aligning your money with your goals. As the year winds down, ask yourself:

• Have your priorities or plans changed this year?
• Do your investments still match your comfort level and timeline?
• Is your insurance coverage still the right fit?

Quick Dates to Remember

October 15 – December 7 – Medicare Open Enrollment

November 1 – ACA Open Enrollment begins for 2026 coverage

December 31 – Deadline for 401(k), IRA, and most charitable contributions for 2025

April 15, 2026 – IRA and HSA contribution deadline for 2025 tax year

**Keep these dates handy. Your future self will thank you.

Year-End Tax & Financial Checklist

As 2025 winds down, it’s a great time to tidy up your finances and take advantage of a few year-end opportunities. Here’s a quick checklist to help you prepare for tax season and set the stage for a stronger financial year ahead.

Tax Moves to Make Before December 31

☐ Max out your 401(k) to reduce taxable income for 2025

☐ Contribute to your IRA ($7,000 limit; $1,000 catch-up if 50+)

☐ Top off your HSA for triple tax benefits

☐ Use remaining FSA funds before they expire

☐ Take Required Minimum Distributions if you’re 73 or older

☐ Rebalance your portfolio to align with your goals

☐ Make charitable gifts or a Qualified Charitable Distribution (QCD) by Dec. 31

Personal Finance Tune-Up

☐ Check your credit report for errors

☐ Review and reduce high-interest debt

☐ Adjust tax withholding if you owed or received a large refund this year

☐ Review insurance coverage to ensure it fits your current needs

☐ Revisit your budget and goals for the year ahead

☐ Rebuild your emergency fund (3–6 months of expenses)

☐ Update beneficiaries and estate documents

☐ Organize receipts and records for smooth tax filing

A few proactive steps now can make a big difference come tax season – and help you start 2026 with confidence!

The final stretch of the year should be about setting yourself up for success. If you’d like to talk through your year-end opportunities or get a fresh perspective, we’re here to help.