Investment checklist: things to do by the end of the year | Investment



Delia Fernandez, CFP and investment advisor based in Los Alamitos, Calif., Recommends contributing before the end of the year, especially if you get a matching employer (who doesn’t like free money?).

Fernandez suggests that you find out about your payroll deduction contribution deadlines before the deadline. She also suggests checking where you stand with your health savings accounts.

“If you realize that you haven’t taken advantage of all the health savings account contributions that you wanted to make, you want to go ahead and profit by contributing,” she says.

You can contribute up to $ 3,600 to your HSA for individual coverage and $ 7,200 for family coverage in 2021. You can leave the money you don’t spend on health care expenses in the account for free growth. tax. When you turn 65, you can withdraw money from your HSA for medical or non-medical expenses without a tax penalty.

Consolidate investment accounts

If you have multiple accounts in different locations, it can be difficult to keep track of your investments. For this reason, Plick recommends that investors address these issues.

“If they have an old 401 (k) from a former employer that they no longer contribute to, or maybe multiple IRAs or retirement accounts, maybe consider consolidating them,” she says.



Leave A Reply