Your Financial Planning Christmas List

Sometimes the best gifts don’t cost you a penny while providing lifelong value. Creating a financial planning Christmas list can help you stay on track for the new year while taking advantage of the holiday spirit to focus on important goals. Many of our current customers have used this time of year as motivation to take control of their financial situation.

Here’s a good list to get you started:

1. Financial Goals Review
 Reassess retirement savings plans.
 Plan for big upcoming expenses (e.g., home renovations, travel, medical).
 Set a new savings goal for 2025.

2. Retirement Planning
 Maximize contributions to retirement accounts before year-end.
 Explore catch-up contributions (if eligible).
 Schedule a meeting with a financial advisor.

3. Investments
 Review and rebalance investment portfolio.
 Research additional income streams or dividend investments.
 Consider gifting investments to family as a teaching tool.

4. Budgeting & Saving
 Update the budget for 2025 with expected income/expenses.
 Set up or adjust an emergency fund.
 Take advantage of holiday sales for practical purchases.

5. Estate Planning
 Update or review wills and trusts.
 Verify beneficiary designations on all accounts.
 Consider gifting to heirs or charities (tax-efficient).

6. Tax Planning
 Donate to charities for year-end deductions.
 Organize tax documents for filing season.
 Explore potential tax-loss harvesting opportunities.

7. Health and Insurance

 Review Medicare plans and supplemental policies.
 Ensure adequate health savings account (HSA) contributions.
 Reassess insurance policies (home, auto, life).

8. Family and Gifting
 Create a holiday budget for gifts and celebrations.
 Educate younger family members about saving and investing.
 Start a college savings fund for grandchildren (529 plan).

Wrapping It Up

If you are ready to take control of your financial situation and would like more to get started with developing your own customized retirement plan, we offer a free and confidential strategy discussion. Simply Click Here to Contact Us and we’ll touch base with you to get something scheduled. You can also email us directly at info@iowaretirementsolutions.com or by phone at 319-423-3332. Whenever you need us, we’re here for you! If you’re unsure, and preparing for retirement in Cedar Rapids, consider working with a trusted financial professional at Iowa Retirement Benefits & Solutions who can help you navigate these challenges and keep your investment strategy on track.

Investment advisory services are offered through Fusion Capital Management, an SEC registered investment advisor. The firm only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. SEC registration is not an endorsement of the firm by the commission and does not mean that the advisor has attained a specific level of skill or ability. All investment strategies have the potential for profit or loss.