100 Days Left: 401(k) Tasks for Fall Financial Readiness

The 100-Day Countdown: Your Financial Sprint Begins Now

As the leaves turn and the days grow shorter, an undeniable reality sets in: only 100 days remain in the year. This is your last sprint to ensure that your financial strategies are finely tuned, particularly your 401(k). Don’t let the calendar year slip by without reassessing and optimizing your 401(k) plans, turning these final days into a catalyst for long-term financial well-being.

 

Review and Update Beneficiaries

Don’t underestimate the power of updating your beneficiary designations. It's a simple yet pivotal task. Reflect on life changes such as marriage, divorce, or the welcoming of children—each can necessitate an update. Keeping beneficiary information current ensures that your assets are distributed according to your intentions, safeguarding your desires and providing peace of mind for your loved ones.

 

Maximize 401(k) Contributions

As we near the year's end, there's still time to boost your 401(k) contributions. Consider increasing your contribution rates to take full advantage of the 2025 limits—$23,500, plus an additional $7,500 for those aged 50 and over. Not only does this enhance your future financial security through compounding benefits, but it also provides immediate tax advantages by reducing your taxable income if making pre-tax contributions. Remember, every dollar invested counts significantly over the long term.

 

Act Now for a Confident Financial Future

The clock may be ticking, but there's still ample time to make meaningful changes in your 401(k) strategies. By focusing on these actionable tasks, you can pave the way for significant improvements in retirement savings. Proactive planning today translates to fewer headaches and a more confident financial future tomorrow. Don't hesitate—reach out for the guidance and support needed to complete these key tasks before the year ends.