Smart financial moves to make before year-end

     • 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. Check with your HR department about your plan’s specific deadlines for spending the money and submitting receipts. Whether it’s that dental work you’ve been putting off or new prescription glasses you need, now’s the time to use those funds before they disappear.

     • Boost your retirement savings. Consider ramping up your pretax retirement contributions before year-end. Not only will this help your future self, but it might also reduce your current tax bill. If your workplace plan allows it, you can even set up automatic increases for next year so you won’t have to remember to do it later.

     • Share the wealth through gifting. In 2025, the current tax rules let you give family or friends up to $19,000 per person without affecting your lifetime gift tax exemption. Married couples can combine their allowances to give up to $38,000 per person. Plus, you can pay someone’s tuition or medical bills directly without these payments counting against your gift limits at all.

     • Navigate new tax changes. The recently passed One Big Beautiful Bill Act has made several tax provisions permanent, including lower individual tax rates and higher standard deductions. However, it also introduces new changes that might affect your situation. It’s worth sitting down with a financial advisor or tax professional to understand how these updates impact your specific circumstances.

     • Examine your investments. Take some time to review your investment portfolio. Ask yourself: Did your investments perform as expected this year? Do they still match your goals and comfort level with risk? You might need to rebalance things to get back on track.

     • Build up your emergency fund. It’s ideal to have enough cash saved to cover three to six months of living expenses in an easily accessible account. This safety net can prevent you from having to raid your retirement savings when unexpected expenses pop up.

     • Review your estate planning documents. This is especially important if you’ve had major life changes like marriage, divorce or a new baby. Don’t forget to check the beneficiary designations on all your bank and brokerage accounts as well as life insurance policies — these often override what’s written in your will.

Taking care of these financial housekeeping tasks now can help you start the new year on solid ground.

This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.

Edward Jones, Member SIPC

Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation.