2024 Year-End Planning: A Proactive Approach
When it comes to our most valuable investments, maintenance is key. For example, you may:
- Complete annual physical exams and routine dental cleanings to keep up with your health.
- Get regular oil changes for your car to keep it running smoothly.
- Clean and inspect your home’s chimney every few years to prevent the likelihood of a fire.
Your wealth management plan is equally deserving of a check-up to ensure you’re making the most of it – and the end of the year can serve as a perfect time for this reflection.
Doing so leaves you enough time to take advantage of opportunities in the remaining months, while also setting your plan up well to respond to changes in the coming year.
In the related articles, you’ll find strategies to optimize your wealth plan in collaboration with your advisor. You’ll also see references to the Tax Cuts and Jobs Act, as there are provisions that are scheduled to expire in 2026 that may impact your plan. While it’s unlikely that all provisions will expire as scheduled, it’s best to discuss with your Baird Financial Advisor so you’re prepared for whatever the coming years will bring.
Year-end planning isn’t just about checking off tasks – it’s an ongoing process to enhance your wealth plan and prepare yourself for what could come of the future.
Here’s to stepping into 2025 with confidence.
Access Our Year-End Resources
Looking to reap the benefits of a Roth conversion? First, answer these three important questions.
The income tax implications we can expect to see if the Tax Cuts and Jobs Act sunset occurs – and how you can prepare today.
Want to make gifts to your loved ones without incurring a large tax bill? These strategies could likely benefit you.
How far can your charitable contributions go? Optimize their impact by using these five timely strategies.
How can you finish out 2024 to make sure you get a strong start to 2025?