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Important Strategies to Consider at the Beginning of the Year

Planning Retirement Scott's Thoughts

By: Scott Van Den Berg, CFP®, ChFC®, CEPA®, AIF®, CRPS®, CMFC®,  AWMA®

Please click here to download or print.

Job & Benefits Review

  • Update employer qualified retirement plan contributions
  • Explore other employer plan benefits (match, Roth option, paying student loans, etc.)
  • Spend 2022 FSA before grace period ends on March 15th
  • Review and update tax withholding

Tax Planning

  • Roth IRA and backdoor Roth conversion
  • Plan for efficient gifting and Required Minimum Distributions
  • Determine quarterly tax payment estimates within safe harbor
  • Compile tax records for your CPA

Asset Allocation

  • Review investment mix of stocks, bonds, and cash at your household and account level
  • Ensure your household investment strategy matches your investment risk capacity

Fund Your Accounts

  • IRA and Roth IRA (You can still make 2022 contributions until April 18th) 
  • 529 or other education savings account
  • Health Savings Account

Plan For Your Future

  • Annual reviews: cash flow, investments, beneficiaries, insurance, estate plan
  • Plan for any life events (job change, move, birth, health event, long-term care, education, etc.)
  • Call Scott Van Den Berg, or your Wealth Advisor, at Century Management to establish/update your financial plan and goals

Disclosures: Century Management ("CM") is an independently registered investment adviser with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Century Management is also registered as a Portfolio Manager in the Province of Ontario. This content is developed from sources believed to be providing accurate information. This information is not intended to be tax advice. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security. A full description of our Firm’s business practices, including our Firm’s investment management services, wealth plans and advisory fees, are supplied in our Form ADV Part 2A and/or Form CRS. These forms are available on our website at www.centman.com or by calling 512-329-0050.