Episode 121: Year-End Planning Checklist

The year is wrapping up and it's got us thinking about 10 somewhat nerdy, but ultimately important, "end-of-year planning" tasks to put on your radar. Then we're tackling two listener questions about life insurance!Year-End Planning Checklist:Observe the impacts of sequence of returns, if you're taking incomeDouble check your planned retirement date to confirm if it is still realisticCalculate your withdrawal rate percentageReview CARES Act distributions and repaymentsHave an inherited IRA? You may need to take RMD'sUnderstand the changes to FSA spending rulesConsider bunching your charitable givingReview all your various insurance coverages—yes all of themConsider a Roth ConversionEngage in Tax Loss HarvestingListener Questions:"My husband is 13 years older than me and he's retiring next year. The only life insurance that he has is provided by his job, so he will have none when he retires. Should I take out a policy on him since he is older than me?" - Jane"I have been seeing conflicting answers so I thought I would ask you. What is the better life insurance—term insurance, universal life or whole life?" - Ted