Here are some end of year financial planning items to be get excited for!

Get psyched up for End of Year Financial Planning!

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As we move into the fall and we get close to the end of the year, planning thoughts are top of mind. Are you psyched?

Roth IRA conversions

One example would be tax strategies like Roth IRA conversions. These conversions can take some time as you will need to do a tax analysis before you execute on the conversion.

IRA distributions (Required Minimum Distributions)

Every year there’s a new group of us that is ready to start taking distributions from our IRA accounts.

If you had your 72nd birthday in this year, or in the next couple of months (before the end of 2021), be aware of the IRA distributions that are required. There are penalties if you miss it. This includes inherited IRA’s or inherited annuities. If you have any of these types of accounts, you could have a distribution requirement. Make sure to take care of that if this requirement applies.


If you set up a new retirement plan, think about what contributions you want to make, as you get into the latter part of the year. There are guidelines for certain types of retirement plans, especially if you are a business owner or a retirement plan sponsor for a business, that you will need to follow.

Taking action before end of year

As it is now the fourth quarter, it could be a good time to reach out to the financial planner, the actuary, the CPA, about what, if any, changes you want to make, so you can get those done before you get into the next plan year. As always, if any questions please reach out.


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