Kent A. Bennett & Associates Helps You Close Out the Year with Confidence
The end of the year is a great time to assess your finances. At Kent A. Bennett & Associates, we help retirees in Montoursville, PA, review key financial decisions before the new year begins. This checklist keeps you on track and prepared for 2026.
Review Required Minimum Distributions (RMDs)
A year-end financial checklist for retirees includes confirming that you’ve taken your RMDs if you’re age 73 or older. Make sure you’ve withdrawn the correct amounts from IRAs and other retirement accounts. Missing a distribution may result in steep tax penalties. Confirm amounts, deadlines, and tax withholding.
Reevaluate Medicare and Healthcare Costs
Look at what you spent on premiums, copays, and prescriptions this year. Did your healthcare plan meet your expectations? If not, there’s still time during Medicare’s Annual Enrollment Period to make changes for 2026.
Organize and Track Investment Performance
Check in on your investment accounts. Compare year-to-date performance and rebalance your portfolio if needed. Confirm your asset allocation still matches your goals and risk tolerance. Consider harvesting losses to offset gains.
Review Your Budget and Adjust for the New Year
Take stock of your 2025 spending. Did your expenses match your budget? Did anything unexpected arise? Use this data to adjust your budget for 2026, including inflation and potential healthcare changes.
Before the year wraps up, connect with Kent A. Bennett & Associates in Montoursville, PA to complete your year-end financial checklist. We’ll help you make informed, confident choices for the year ahead.
Simplify your decisions—call us at (570) 327-1006. Follow us on Facebook for tips and information. Make the most of your retirement planning with a complete year-end financial checklist for retirees.