FINANCIAL FOCUS: Smart financial moves to make before year-end
As the year winds down, it’s the perfect time to make some smart moves before the calendar flips to 2026. Think of it as a financial tune-up that could help with saving money and setting you up for success in the months ahead.
Here are some things to consider.
• Don’t forget about required withdrawals. If you’re 73 or older, you’ll need to take your required minimum distribution from traditional retirement accounts to avoid a 25% penalty on any amount you should have withdrawn but didn’t. This rule also applies to some people who inherited retirement accounts, including certain Roth accounts.
• Use your flexible spending money. Got money sitting in a flexible spending account at work? Remember, these accounts follow a “use it or lose it” rule.
