Financial Moves to Make Before Year End

As we approach the end of the year, it’s a natural time to reflect on our financial journey and make strategic decisions that set the stage for the upcoming year. In our recent LinkedIn live at 5, Jin and Jackie shared valuable insights on key areas for consideration.

Investment Strategy and Fee Awareness

Take a moment to delve into your investment strategy by regularly checking your investment statements. Beyond the performance numbers, it’s crucial to be mindful of the fees associated with your investments. High fees can eat into your long-term gains, so understanding and minimizing them is a smart move.

Communication with Your Advisor

How often do you connect with your financial advisor? Effective communication is a two-way street. Discuss your investment strategy, risk tolerance, and any concerns you might have. Maintaining an open dialogue ensures that your investments align with your goals, and it’s particularly essential during periods of market volatility.

Diversification for Risk Mitigation

The financial markets are no stranger to uncertainty, and diversification is your shield against unforeseen events. Avoid the risk of concentrating your portfolio in a handful of companies. A well-diversified portfolio helps mitigate risks and positions you for a more stable financial future.

Insurance Statements and Benefits

As you start receiving annual insurance statements, it’s an opportune time to evaluate your coverage. Life changes, such as a new mortgage or increased income, may necessitate adjustments to your insurance. Additionally, make the most of health benefits before year-end, especially if there’s a “use it or lose it” policy.

Estate Planning

Consider your current circumstances. Have there been significant life changes this year, such as a divorce, a new addition to the family, or perhaps starting a business? These changes may warrant updates to your estate plan. If you’re a business owner, now is the time to assess your business’s value and consider succession planning.

Utilizing Year-End Benefits

Don’t let valuable benefits go to waste. Whether it’s dental appointments or submitting outstanding medical receipts, take advantage of what your plans offer. For business owners and employees alike, be aware of the expiration dates on benefits and ensure you maximize them.

Financial Assistance and Planning for 2024

Seek professional advice for personalized financial planning. Consider a diversified portfolio aligned with your risk tolerance. Stay informed about potential financial moves, and don’t procrastinate; there’s still time to make positive changes.

In conclusion, a comprehensive year-end financial reflection involves a deep dive into investments, optimizing insurance coverage, and actively participating in estate planning. Utilize available benefits, communicate effectively with your financial advisor, and consider seeking professional advice for a robust financial plan in 2024. We are happy to help you figure out your finances as you grow. Please reach out to Also, feel free to share your questions/experiences with us here or on.

Remember, sharing financial knowledge is caring. Share this guide with friends and family to empower them on their financial journey.

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