TAs the year winds down, it’s the perfect time to make some smart moves before the calendar flips to 2026. Think of it as a financial tune-up that could help with saving money and setting you up for success in the months ahead. Here are some things to consider.
Don’t forget about required withdrawals. If you’re 73 or older, you’ll need to take your required minimum distribution from traditional retirement accounts to avoid a 25% penalty on any amount you should have withdrawn but didn’t. This rule also applies to some people who inherited retirement accounts, including certain Roth accounts.
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.
