4 Tips To End 2021 Well

By: James Spainhour

2021 is coming to a close and CNBC has compiled a short list of tips for money savvy consumers.

The first is to consider maxing out your retirement plan contributions. With the ever changing landscape we’re in, it’s a good time to make sure you’ve put in as much as possible towards your retirement this year, if you’re able. It’s an investment in your future that should always be considered.

Second, they say to make Roth conversions. Since Roth accounts come from post-tax money, and therefore don’t cost you anything to withdraw from. They’re accounts that might work for you.

Their third tip is just for those who have decided to invest in crypto. 

While the Build Back Better act is currently facing challenges, and may never actually be passed, it’s always better to have a plan. If it ever does pass, it could change how crypto is handled, making it like other investments in how you can claim losses on it. Just something to keep in mind, depending on how that variable plays out.

The final tip they have is to fight inflation with I bonds, bonds that currently have fixed rates of interest. Of course it won’t be like this forever, but you can capitalize on it right now, for up to $10,000 a year. It’s a different kind of investment to be sure!

Our fifth, bonus Wisepath tip is to contact a financial professional to assist you with all of these ideas. Nothing is guaranteed, so it’s always good to have someone in your corner who can guide you. Wisepath offers you guidance to financial freedom and to complete the goals you have. Reach out today!

Provided content is for overview and informational purposes only and is not intended and should not be relied upon as individualized tax, legal, fiduciary, or investment advice.

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