It’s Time: Complete Your Year-End Financial Checklist

To complete a goal, you need a plan. For the plan to succeed, you need action steps. To make sure you’ve put the right actions in place, you need to routinely check in and see how it’s going.

The best way to do that? A checklist.

As we near the end of 2025, it’s time to look at your financial checklist to see what you accomplished and decide what adjustments you (might) need to make for 2026. This sets you up for a smoother tax season, more meaningful investing and a stronger year than the last.

Check out our tips on what to look for as you complete your year-end financial checklist.

✓ Review your retirement contributions

Take a look at your retirement accounts to see if you maximized your contributions. The current limits are:

• $23,000 ($30,500 if you’re 50 or older) for 401(k)s
• $7,000 ($8,000 if you’re 50 or older) for IRAs

If you didn’t, see how much more you can contribute next year.

Quick tip: Try to boost your contribution by just 1%. It can make a big difference over time, thanks to compounding interest.

✓ Use your employer benefits

Look at how you used flexible spending accounts (FSAs), dependent care accounts or other employer-provided benefits. Some allow your contributions to carry over to the next year, some fall into the “use it or lose it” category.

Never leave money on the table if you can help it; examine each account and figure out the best way to use any contributed funds before December 31.

Quick tip: Schedule any last-minute appointments (like dental or vision) so you can use remaining funds before they expire.

✓ Make charitable contributions

Make all desired donations to nonprofits/causes before December 31 so you can claim it all on your 2025 tax return. Cash donations and gifts of appreciated securities may provide valuable tax advantages.

Quick tip: Group all donations into one year to lower your taxable income.

✓ Review your investments

Check in on your portfolio and see how your investments are doing. If things aren’t quite lining up with your goals or comfort levels, make some adjustments or talk to your wealth advisor.

Quick tip: Stay focused; a disciplined review keeps your plan on track for the long run.

✓ Check in on tax strategies

Explore different ways to save money, such as tax-loss harvesting and asset ownership through capital gains. Also, keep an eye on updates from the 2025 Budget Act that may affect deductions.

Quick tip: Schedule a quick conversation with your advisor or tax professional to uncover new potential opportunities.

✓ Protect your legacy

Update your estate documents, wills and beneficiaries on retirement accounts and insurance policies to make sure they reflect your wishes.

Quick tip: Use every milestone – marriage, birth, death, etc. – as a moment to revisit your estate plan.

✓ Set your 2026 financial goals

Look ahead and brainstorm goals for next year, including paying down debt, saving for a large purchase like a home or wedding or setting aside more money for retirement.

Quick tip: Write down your goals! People who do so are far more likely to achieve them.

Start planning today

Need help making or executing your own financial checklist? Our wealth management advisors have the experience to get you started and help you through the entire process. To talk with a wealth advisor, completer our online form.

This information is intended for general informational purposes only and does not constitute legal or tax advice. Investment decisions may have tax implications. Please consult with a qualified legal or tax professional regarding your specific situation. Investments and other non-deposits are not deposits, not FDIC insured, not guaranteed by the bank, and may lose value. There is no guarantee that investment goals will be achieved. Past performance does not guarantee future results.