A. Here are 6 actions everyone should take before year end -
- Increase your 401(k) contribution rate for the following year (if you haven't maximized it)
- Check if you are eligible to fund an IRA, if yes, fund the IRA now instead of waiting till tax filing deadline in April.
- Check if you are eligible for HSA, if yes, fund it.
- Assess if your asset allocation strategy is still appropriate, if not, adjust it.
- Rebalance your investment mix across 401(k), IRAs, and taxable accounts.
- Harvest the losers in your portfolio to sell and scope out bargains to buy.