The summer we moved across the state. From familiar routines, deep friendships, and a clean home to new territory, a clean-slate social circle, and unsettled spaces. If you’ve gone through the joys of moving, you probably know the peaks and valleys it brings.
At first, energy was high: boxes neatly stacked, to-do list mapped out, plans for how everything would fit in the new space. We were unstoppable. Then, moving did what moving does. Every small task took longer than it “should have,” and we found ourselves in the slump of we’re never going to get out of here.
Which is when I did what I normally do when feeling completely overwhelmed: call my dad. He listened as I described my frustrations and feelings of defeat, then replied:
“How do you eat an elephant? One bite at a time.”
I’m not exactly sure who came up with that or why eating an elephant was ever used as an analogy, but anyone who knows my dad knows a phrase like this is one of his many bizarre life-isms. Surprisingly, it was just the mindset shift I needed to kick it in gear.
So there I went, room by room, making progress. Finally, the day came to load the moving truck and hit the road. Relief washed over us as we rolled into our new home, greeted by helping hands ready to unload. Forty-five minutes. That’s how long it took from start to finish. In some ways, I couldn’t believe it. What had taken weeks of work and energy to pack was unloaded in less than an hour. As the saying goes, “many hands make light work.” It was a high moment again: we’ve made it.
Then I stepped inside. Every wall lined with boxes, and the realization that this wasn’t the finish line, just another mile marker on the way to our goal: familiar routines, deep friendships, and a clean home. We had a choice: wait until January to get organized, dig through boxes as needed, or go for it — bite by bite.
Three weeks later, there we were, and I’m sure glad we chose the third option. We traded defeat for effort, ease for hard work, and sprinting for steady progress. I couldn’t wait to enjoy the holidays in a home that feels like ours, with a renewed sense of “fresh start” before rolling into the new year.
That experience reminded me of finances, especially this time of year. Most people assume they’ll start fresh in January, but the last few months of the year are our final laps. With focus and intentional effort, we can clean up loose ends, make strategic moves, and set ourselves up for a smooth, strong start to the new year instead of scrambling later.
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Do your income projections still line up with what you’ve paid so far? Surprises and taxes are two words that shouldn’t go together. A big refund at tax time isn’t really a win, it usually means you’ve overpaid throughout the year. On the other hand, underpaying can trigger penalties that careful planning could have helped avoid.
Check your progress toward annual contribution limits, such as $23,500 to a 401(k) or $7,000 to a Roth IRA for those under age 50. There’s still time to maximize these savings and take advantage of valuable tax benefits.
2025 has been a strong year for globally diversified investors, with many portfolios seeing double-digit returns. Now is a great time to review your allocation. If your portfolio has drifted heavier in stocks, consider shifting some into bonds in a tax-efficient way. If you are mostly invested in U.S. stocks (especially just the S&P 500), remember that while the U.S. market has had an incredible run over the past decade, it has also experienced long stretches of underperformance in the past. Spreading your investments across international markets is a simple and important way to stay diversified and help reduce risk over time.
Watch for notices from your employer to review benefits. Be ready to make adjustments to health, dental, vision, life, or disability insurance if needed. Deadlines vary by employer, but most fall between October and December.
If you haven’t already, factor holiday spending into your budget and set aside money now so you can spend guilt-free when the time comes. From there, build off your planning and spend more intentionally in the months ahead.
If you plan to itemize, complete donations before year-end. If you’re on the fence between itemizing or taking the standard deduction, consider lumping two years’ worth of donations into 2025 to maximize your tax benefits. And with the new tax bill passed this summer (OBBBA) introducing changes to charitable giving starting in 2026, making a larger donation this year can be especially advantageous.
For those age 73+, RMDs must be withdrawn before December 31 to avoid steep penalties. This also applies to many of those who have inherited an IRA from someone who has passed away.
If you have investments that have gone up in value, you may be able to sell some before year-end and “lock in” those gains without paying any federal income taxes. To qualify, your 2025 gross income must be under $126,950 for couples or $63,475 if single. This can be an especially helpful opportunity for retirees. On the other hand, if some of your investments are worth less than you originally paid for them, you can sell them to "harvest" the loss for tax purposes. Doing so can help offset taxes on other gains and even reduce up to $3,000 of your regular income. The key is to reinvest the proceeds right away in a different investment so you stay invested and don’t miss out on potential growth.
Year-end is a great time to review your income and consider converting some pre-tax retirement dollars from an IRA to a Roth IRA. This can be highly beneficial if you are in a lower tax bracket today than you anticipate being in the future. People in retirement, between jobs, or starting a new business often have the best opportunity to take advantage of this strategy.
Annual gifting limits reset every January. In 2025, you can gift up to $18,000 per person without any tax consequences. If you have a larger estate, year-end gifting is a simple but powerful way to transfer wealth tax-free.
The last months of the year are often the busiest — with work deadlines, travel, family, holidays — and money tasks often fall to the bottom of the list. The people who finish strong aren’t the ones who try to do everything. They are the ones who focus on the moves that make the biggest difference.
Most people overestimate what they can do in a day and underestimate what they can do in 100 days.
Pick one, two, or three actions from this list. Do them intentionally. Watch how small, thoughtful choices today can make the start of 2026 feel calm, confident, and in control.
