The holidays are here, bringing with them the magic of the season—and let’s face it, some chaos too. Thanksgiving kicked off the festivities, and now we’re barreling toward the new year. Amid the bustle, it’s the perfect time to pause and reflect on your financial health. Think about where you’ve been, where you’re headed, and what steps you can take now to set yourself up for success in 2025.
In the spirit of the season [
on the twelfth day of Christmas my true love gave to me… ], I’ve put together 12 Steps to End the Year Strong. No partridges in pear trees here—just practical advice that pays dividends long after the last holiday decorations are packed away. After all, unlike some of those crappy Christmas gifts we’ve all received, these tips are designed to deliver lasting value, not clutter.
Let’s dive in and make 2024 the foundation for an even better 2025 ahead.
1. Review Your Financial Goals
Take stock of the year. What wins or challenges shaped your financial journey? Did you meet your goals or face unexpected hurdles? Any big financial wins or windfalls you weren’t expecting? Reflecting on these helps set a roadmap for the future. Tip: write your goals down so you can keep track of them and help yourself remain accountable.
2. Max Out Tax-Advantaged Accounts
Ensure you’re maximizing contributions to accounts like your Roth IRA or 401(k). Consider employer-sponsored options like a Roth 401(k) if income limits disqualify you from contributing to a Roth IRA. Do this now and you will not have to worry about it on April 14th – yeah, I see you, running like a headless chicken at the last minute.
3. Consider Tax Loss Harvesting
This one requires deeper Tax Planning. Review your portfolio for potential losses that can offset capital gains. This strategy could save you money come tax season. If you have more losses than you have gains, keep in mind that you can write off up to $3,000 of net losses annually and carry the rest forward.
4. Make Charitable Contributions
‘Tis the season for giving! Donate to causes you care about, your local church or those organizations whose mission you support. Options like donor-advised funds can provide flexibility and tax benefits while supporting organizations close to your heart.
5. Spend Your FSA Dollars
Unlike HSAs where you can rollover dollars you don’t use, flexible spending accounts (FSAs) are “use-it-or-lose-it.” Many employers offer FSAs and allow you to use it for many health-related expenses, for example. Review what’s left in your account and plan health-related purchases before the year ends.
6. Plan Year-End Bonus Usage
Many people look at these bonuses as found money and go buck wild. My recommendation, however, is to think of your bonus as an opportunity to strengthen your financial foundation. Is there a way that you could use those dollars more effectively than blowing them up on a single transaction for that luxury item you don’t really need? Consider using it to pay off high-interest debt, fund investments, or bolster savings instead of splurging impulsively.
7. Check Your Credit Score
I know, those credit bureaus are like the Harry and Marv to all of us Kevin’s out here– the unwanted troublemakers. Yet, they (and your credit score) are important. Monitor your credit score and review your reports for accuracy. Good credit can be hugely impactful from a financial perspective and is essential for securing lower interest rates on loans, mortgages, and more.
8. Update Your Financial Plan
A lot can happen in a year and some events will not be goals based. Big life changes like a new job (or losing your job), marriage (or divorce), or buying a home affect your financial plan. Work with your advisor to adjust your strategy accordingly.
9. Make Additional Debt Payments
Sounds boring but this is one of the things I would recommend covering with that year-end bonus. A single extra payment on your mortgage or other debts every year can significantly reduce your interest burden over time. It will not feel all too exciting now, but it’s a simple move with lasting benefits.
10. Rebalance Your Portfolio
The end of the year is the perfect time to take a closer look at your investment portfolio. After a strong 2023 and what looks to be a fantastic 2024, where the S&P 500 delivered impressive gains of over 20%, the momentum could suggest opportunity—or signal caution. Historically, three consecutive years of strong market performance are rare. With two robust years behind us, 2025 brings a mix of optimism and uncertainty.
Rebalancing helps ensure your portfolio stays aligned with your financial goals. Consider locking in gains from well-performing assets or reallocating to underperforming investments with strong long-term potential. As I often emphasize, it’s not just about chasing past winners but positioning for the future with a balanced approach.
11. Review Employee Benefits
Take advantage of open enrollment to assess life, health, and disability insurance options. If open enrollment doesn’t happen in Q4 for you that’s fine, still look into your benefits and what happens when the calendar year changes, if anything. Consider upcoming expenses like planned surgeries or growing family needs when making selections.
12. Set Financial Intentions for 2025
Use December to define your financial goals for next year. Whether you’re building an emergency fund, paying off debt, or starting a new investment journey, see where you are now and envision how success will feel and set a plan to achieve it. Lists, vision boards, nothing is off-limits here but do it intentionally.
Tip: set some goals start-dates in December when things are usually slower. Once January hits you’ll be already on the move, excited and empowered rather than trying to find the motivation to start from zero. This applies both to your financial and your personal goals and it will help you feel less stressed in the new year.
Why Intentionality Matters in Financial Planning
Financial planning isn’t just about crunching numbers or maximizing returns; it’s about building a life of security, empowerment, and balance. By making thoughtful decisions now, you’re not only managing today’s challenges but paving the way for long-term peace of mind.
When you approach your finances with intentionality, you’re giving yourself more than a plan—you’re fostering confidence. Knowing your priorities, addressing uncertainties, and visualizing success can reduce stress and anxiety around money. For example, envisioning how you’ll feel once debt is paid off or your emergency fund is fully funded can transform financial planning from a chore into an inspiring goal.
At Four Points Wealth Management, we emphasize mindfulness in every financial decision. Our process is tailored to your unique needs, helping you turn aspirations into actionable strategies.
If you’re ready to feel more empowered and aligned with your financial future, let’s create a plan together that resonates with your values and goals. The journey to financial clarity begins here.
Four Points Wealth Management
About the Author: Taylor Leary is a Certified Financial Planner in Denver (CFP®), specializing in guiding professionals through the complexities of wealth-building and financial planning. With his dynamic, relatable approach, Taylor provides tailored strategies to help his clients achieve their personal and professional goals. Whether it’s navigating real estate investments, retirement planning, or cash flow management, Taylor brings clarity and confidence to every financial journey.
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