5 Tasks for Your Year-End Money Checklist

As 2025 comes to a close, there are some important tasks to check off your money to-do list, and set yourself up for success in the new year. 

Here are some of the top money moves to help you feel more confident when you kick off the new year:

1.  Max Out Retirement Accounts

Maxing out your retirement accounts is smart for the long-term because it creates and compounds a better savings cushion for retirement. 

But it can also save you money in the short term. Contributing to tax-deductible accounts, like your 401(k), could help you decrease your tax bill. (This is a great way to use your year-end bonus, too.)

Most contributions have to be made by Dec. 31st to count toward your 2025 taxes, but there are some exceptions. Traditional and Roth IRAs, for example, allow you to make contributions up to the tax filing deadline of the following year.

Retirement resources:

Should You Retire Early?
Are Your 401(k) Savings Enough?
5 Ways to Prepare for Early Retirement

2.  Decrease Your Tax Bill: Money Checklist

Completing some tasks now can lead to savings on your tax bill for the year.

Here are some items to add to your to-do list:

• Contribute to your Health Savings Account (HSA), 401(k) and other pre-tax accounts
• Pay estimated taxes on any big bonuses or buyouts to cut down on taxable income
• Donate to charity
• Sell your investments that are at a loss 

Review the numbers now to estimate what you might owe at tax time. Give yourself time to save money or make a plan for your refund so you’re prepared before you file.

Tax resources:

Physician Tax Tips: 4 Strategies to Know
Tax Cuts and Jobs Act: What You Should Know
Tax Tips for Easier Filing

3. Money Checklist: Check Over Your Portfolio

Before you prepare for the year ahead, know where you stand with your portfolio. Aim to check in about once per quarter, or just enough to be aware of any shifts or important changes. Avoid hovering or obsessing over your portfolio, because you’re more likely to make emotional decisions that won’t serve you well long-term.

After you’ve reviewed your portfolio, consider selling your losses. This is known as tax-loss harvesting, where you shed the investments that are worth less than they were when you bought them.

This strategy could offset your gains and be worth a write-off of about $3,ooo annually against your income, if you have $3,000 in losses after those gains.

(Note: Due to the wash-sale rule, you won’t be able to buy back your investments immediately.)

Portfolio resources:

Refreshing Your Portfolio for the Best Growth
How to Handle Market Volatility

4.  Update Beneficiaries and Withholdings 

A lot can change in a year. Make sure your withholdings, beneficiaries and benefits reflect that.

There are obvious reasons to update who is listed on insurance policies and retirement accounts, including the birth of a child, a marriage or a divorce. But even if nothing major changed in your life this year, a quick check-in is a smart idea to make sure everything looks right for the year ahead.

5. Donate to Charity

For those who itemize deductions, charitable giving can be tax-deductible. Whatever you gave or plan to give this holiday season, make sure you keep receipts handy. 

Giving resources:

Charitable Giving: How to Work it into Your Life, Budget and Estate Plan
Natural Disasters: Prepare Your Family and Help Others

About Your Richest Life

At Your Richest Life, Katie Brewer, CFP®, believes financial resources and fee-only financial planning should be accessible. For more information on the services offered, contact Katie today.

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