As the year draws to a close, it’s the perfect time to pause, reflect, and make sure your financial plan still reflects you—your goals, your values, and the life you’re building toward. 
At Dedicated Financial, we believe financial planning is more than numbers—it’s about aligning your money with what matters most so that it empowers your Life Goals, Hopes, and Dreams. Whether you’re preparing for retirement, supporting family, giving back, or just seeking more peace of mind, thoughtful year-end planning can bring clarity and confidence as you step into the new year.
Drawing on guidance and insights from Vanguard, this guide offers a practical, values-driven approach to finishing the year strong—helping you focus on the decisions that can most meaningfully impact your long-term success.
1. Make the Most of Required Minimum Distributions (RMDs)
If you’re age 73 or older, your required minimum distribution must be taken by December 31 to avoid penalties. If you reached 73 this year, you may delay your first RMD until April 1 of next year.
For charitably inclined investors age 70½ and above, consider using a Qualified Charitable Distribution (QCD) to satisfy your RMD, reduce taxable income, and make an impact in a way that aligns with your values.
If you’ve inherited a retirement account, it’s key to understand your distribution obligations—they vary depending on your relationship to the original account holder.
Checklist:
- Confirm all RMDs are scheduled before December 31
- Explore QCD options to fulfill giving goals tax-efficiently
- Review inherited IRA distribution rules
2. Review and Refine Your Investment Portfolio
Your investments should evolve with you. As the market shifts and your life circumstances change, year-end is an ideal time to review your asset allocation, risk tolerance, and tax strategy.
Consider tax-loss harvesting opportunities to offset gains and manage taxable income, being mindful of IRS “wash-sale” rules. Rebalance your portfolio where appropriate—especially in tax-advantaged accounts—to maintain alignment with your long-term plan.
Checklist:
- Review gains/losses for harvesting opportunities
- Rebalance to maintain target allocation and risk level
- Ensure adequate liquidity for next year’s short-term needs
**Discuss portfolio changes, tax-loss harvesting, and asset allocation with your advisor and tax professional before acting.**
3. Optimize Your Retirement Contributions
Your future self will thank you for maximizing contributions before deadlines. Consider increasing your salary deferrals to your employer plan by December 31 and make IRA contributions by April 15 of the next year.
If you’re age 50 or older, take advantage of catch-up contributions. For those 60–63, new “enhanced catch-up” opportunities may apply under current legislation.
Determine whether Roth or pre-tax contributions best fit your income, tax strategy, and retirement vision.
Checklist:
- Maximize retirement plan and IRA contributions
- Review spousal IRA eligibility if applicable
- Evaluate Roth vs. pre-tax contribution strategy for 2026 rule changes
4. Explore Roth Conversion Opportunities
Roth conversions can help manage future tax exposure and reduce future RMDs. By converting traditional IRA assets to Roth, you may lock in today’s tax rates and create more after-tax flexibility for your heirs.
Checklist:
- Evaluate conversion timing with your advisor
- Confirm RMDs are taken before any conversion
- Plan how to cover the tax liability efficiently
- Current contribution rules are based on SECURE Act 2.0 and may change in future years—confirm changes.
5. Manage Income and Tax Thresholds
Smart timing can help you stay within favorable tax brackets. Explore whether accelerating or deferring income can help manage your overall tax picture. Review deductions, stock option strategies, and tax-gain harvesting opportunities.
Checklist:
- Assess income timing and deductions
- Evaluate stock option exercise timing
- Review next year’s cash flow and withholding plans
6. Give with Intention
Year-end is a natural time to express generosity. Charitable giving not only supports causes you care about but can also offer meaningful tax benefits. Consider “bunching” contributions across years, utilizing appreciated assets, or establishing a donor-advised fund for more flexible giving.
Checklist: 
- Complete donations by December 31
- Explore bunching or donor-advised fund strategies
- Review AGI-based charitable deduction limits
- If 70½ or older, consider QCDs—even without an RMD
7. Review Your Estate and Legacy Plans
An up-to-date estate plan ensures your legacy reflects your life’s priorities. Review wills, trusts, powers of attorney, and beneficiary designations, and consider potential gifting strategies.
Checklist:
- Gift up to the annual exclusion amount if desired
- Confirm estate documents are current
8. Refresh Your Health Care Strategy
Health care planning is financial planning. Consider maximizing Health Savings Account (HSA) contributions to take advantage of triple tax benefits and use any remaining Flexible Spending Account (FSA) funds before they expire.
Checklist:
- Maximize HSA contributions (plus $1,000 catch-up if age 55+)
- Use FSA funds before year-end
- Review Medicare premiums and appeal IRMAA if applicable
9. 
Reflect, Realign, and Prepare for a New Year
Finally, take a step back and assess how your financial plan supports the life you want to live. Your advisor is your partner in this journey—helping you stay confident and on track toward your MaxAMAZING™ Retirement, where your money empowers your most meaningful goals.
Checklist:
- Update your advisor on life changes (marriage, new home, career, etc.)
- Review insurance coverage and risk management
- Prepare for major purchases or milestones next year
- Meet with your tax professional before filing season
Key Age Milestones
| Age | Milestone |
| 50 | Catch-up contributions begin |
| 55 | Potential penalty-free 401(k) withdrawals (Rule of 55) |
| 59½ | No early withdrawal penalty on retirement accounts |
| 60 | Survivor Social Security eligibility |
| 62 | Early Social Security eligibility |
| 65 | Medicare eligibility |
| 70 | Maximum Social Security benefit |
| 70½ | Eligible to make QCDs |
| 73 | RMDs begin (75 for those born in 1960 or later) |
Information in this table is correct as of November 2025. Financial rules, ages, and eligibility may change in the future. Confirm any decisions with your advisor or a tax professional.
In Partnership for What Matters Most
At Dedicated Financial, our mission is to help you connect your financial decisions with your deepest values—so your wealth works in service of your why. Together, we’ll navigate each season of life with clarity, confidence, and purpose.
Here’s to finishing the year strong—and beginning the next with focus, freedom, and a plan for a truly MaxAMAZING™ Retirement.
READ MORE for a detailed resource to help as you partner into a MaxAMAZING™ End of Year!
Partnering for a MaxAMAZING™ Year-End
