Author: Ralph Lassa, Wealth Management Advisor

As 2025 draws to a close, it’s a great time to take stock of your financial situation and set yourself up for success in the year ahead. Whether you’re saving for retirement, managing investments, or planning your estate, a few thoughtful actions before December 31 can help maximize your opportunities while minimizing surprises at tax time.

Here are seven important steps to consider before the year ends:

1. Review your investment portfolio
   Markets change, and so should your investment strategy. Take a moment to review your portfolio’s performance and confirm that your asset allocation still aligns with your goals, time horizon, and risk tolerance. Rebalancing now can help keep your strategy on track for the new year.
2. Maximize retirement contributions
   If you have an IRA, 401(k), or other company retirement plan, consider contributing as much as you can before the deadline. These contributions not only build your future savings but may also reduce your taxable income for the year.
3. Take advantage of tax-loss harvesting
   Selling underperforming investments at a loss can help offset capital gains and potentially reduce your tax liability. Be sure to consult your tax professional to ensure this strategy fits your individual situation.
4. Check your required minimum distributions (RMDs)
   If you’re age 73 or older, or if you’ve inherited certain retirement accounts, be sure to take your RMDs by year-end to avoid penalties. If you don’t need the funds, consider directing your RMD to a qualified charity through a Qualified Charitable Distribution (QCD) for added tax benefits.
5. Evaluate charitable giving
   The holiday season is a wonderful time to give back. Donating appreciated assets such as stocks can provide greater tax advantages than cash contributions. Talk with your advisor about how to make the most of your charitable goals.
6. Review your estate plan
   Regularly review your will, trusts, and beneficiary designations to ensure they still reflect your current wishes. Life changes, illness, marriages, births, divorces, deaths, or even new financial goals are all events that affect your plan.
7. Plan for 2026
   Looking forward, now is the time to discuss potential legislative changes taking effect next year with your advisor. Planning can help you adapt your strategy before new laws take effect and keep your financial goals on track.

A year-end review helps ensure your financial plan remains aligned with your goals and life circumstances. If you haven’t already, schedule a time to meet with your wealth advisor to review your complete financial picture and start the new year on solid ground.

PremierBank’s Wealth Management team is here to help you plan for the year ahead. If you’d like to schedule a complimentary meeting to review your current strategy and goals for the new year, give me a call at 920-542-4075 or email rlassa@bankwithpremier.com.

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