Let’s go over my end-of-year financial checklist before 2023 ends.

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⏰ Table of Contents ⏰
0:00 401K Retirement Checklist
2:32 HSA Checklist
5:22 Roth IRA Checklist
8:40 401K Investment Checklist
10:44 Roth IRA & HSA Investment Checklist
13:35 Tax Checklist
18:04 Financial Independence Checklist

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As we approach the end of 2023, it’s a good time to take stock of our finances and make sure we’re on track for the coming year. Whether you’re looking to save more, invest wisely, or simply get your financial house in order, it’s important to have a money checklist to guide you. Here’s your ultimate money checklist before 2023 ends.

1. Review your financial goals: Take some time to review the financial goals you set for yourself at the beginning of the year. Are you on track to meet them? Do you need to adjust your goals or make any changes to your financial plan? It’s important to reassess your goals regularly to ensure that you’re moving in the right direction.

2. Create a budget for 2024: Start thinking about your budget for the coming year. Take a look at your current spending and identify areas where you can cut back or save more. Set a realistic budget for 2024 that aligns with your financial goals and priorities.

3. Maximize your retirement contributions: If you haven’t already maxed out your contributions to your retirement accounts, now is the time to do so. Contributing the maximum amount to your 401(k) or IRA can help you secure your financial future and reduce your tax liability.

4. Evaluate your investment portfolio: Review your investment portfolio and make any necessary adjustments. Consider rebalancing your portfolio to ensure that it aligns with your risk tolerance and investment objectives. It’s also a good idea to consider tax-loss harvesting before the end of the year to minimize your tax bill.

5. Check your credit report: Request a free copy of your credit report and review it for any errors or discrepancies. Ensuring that your credit report is accurate is important for maintaining a healthy credit score and securing favorable terms on loans and credit cards.

6. Review your insurance coverage: Take a look at your insurance policies and make sure you have adequate coverage for your needs. Consider increasing your coverage if you’ve experienced any major life changes, such as getting married, buying a home, or having children.

7. Plan for taxes: Start getting organized for tax season by gathering all the necessary documents and receipts. Consider making any last-minute tax moves, such as making charitable donations or contributing to a retirement account, to minimize your tax bill.

8. Set financial resolutions for 2024: Finally, take some time to set financial resolutions for the coming year. Whether it’s paying off debt, saving for a major purchase, or increasing your income, setting specific goals can help you stay focused and motivated.

In conclusion, there are many financial tasks to tackle before the end of the year, and having a money checklist can help you stay organized and on track. By reviewing your financial goals, creating a budget, maximizing your retirement contributions, and evaluating your investment portfolio, you can set yourself up for financial success in the coming year. Don’t forget to check your credit report, review your insurance coverage, plan for taxes, and set financial resolutions for 2024. With a little planning and preparation, you can ensure that your finances are in good shape as we head into the new year.