Broker Check

How did you do this year?

December 01, 2022

Now that we are nearing the end of 2022, we all can agree that this was a very eventful year.


It's now time to ask: How did you do last year?


One of the best ways to evaluate your progress toward pursuing your financial goals is through an annual review. December and the beginning of the new year is an ideal time to conduct this review.


The end of the year should not be a time for regrets and second-guessing about what you did or didn't do. Instead focus on how you will approach the new year. Here are some suggestions on how to make the most of the rest of the year and position yourself for the coming year.


  • Consider opening or adding to an Traditional or Roth IRA. The annual contributions are scheduled to increase in 2023 with additional catch-up contributions allowed if you are age 50 or older.
  • You may want to take some losses in your non-retirement portfolio accounts. The losses can offset profits or capital-gain distributions earned from other investments in your portfolio.
  • Consider Qualified Charitable Donations (QCDs) from your Traditional IRA if you are Age 70 1/2 or older. QCDs will reduce your taxable income.
  • Rebalance your portfolio.
  • Review the beneficiaries on your accounts, annuities and insurance policies.
  • If you haven't already done so, consider developing a written financial plan as a roadmap to help you pursue your financial goals.


Contact me to assist you with your year-end review, together we can review your situation and develop sound strategies to move forward in the pursuit of your financial goals. I look forward to hearing from you.