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A Year End Checklist? Check!







Oh 2020, you've been a handful. (Is it too early for "hindsight is 2020" jokes?) While counting down the few remaining days of this terrifying year, there's something productive we could be doing. Make an end of year financial/legal checklist! It's not too late -- a few of the items have to be done before December 31st, but most can be done next year.


Let Us Help! The first thing to add to your checklist? Register for our next Woman’s Compass Forum course starting 2/2/21! Register by January 19 to get the special early bird price of $295 ($100 off the regular price ... though still a great value at $395!). To our dear alumni - you should have gotten an email from us about a special deal just for you. Please email us if you haven't received it.

Make Retirement Savings a Priority for 2021! Please read this EXCELLENT NYT article. Making sure we have enough for retirement should be a top priority. Especially during COVID. Tax-Loss Harvesting This is one item you need to do before year end. It sounds harder than it is. (No farm machinery required!) Check if you have unrealized capital losses. You probably don't - but if you do - consider offsetting your realized capital gains with realized capital losses you’ve incurred during that tax year, or carried over.

Any Extra Money? Consider donating to charities. They need you more than ever and it's tax deductible! Sit down with your kids and choose your favorite charities. There is a special extra deduction of $300 from the CARES Act that's only good until 12/31.

Rebalance Your Portfolio. The end of the year is a great time to review your current asset allocation - especially with the volatile markets! The market has done exceedingly well and chances are you are off balance. It also can be an opportunity to invest a small portion in different opportunistic sectors (e.g., ESG, Leisure, Tech). MANY of our clients have CASH in their retirement portfolios. Don’t be that person! Check out this great tool for asset allocation.

Double Check Your Tax Withholding

Your job situation may have changed from full-time to freelance to part-time back to full-time this year. We’ve seen it all! Don’t overpay your taxes or get caught paying too little. Check out this great Calculator!


Reassess Your Retirement Goals

How many years do you want to still work? How many years do you still need to work? Can you work part-time in retirement? Do you want to live in your current home and location or move? This is a good time to take another look at these questions.


Business Owners - Legal Compliance

Your checklist can -- and should -- include more than just financial items, especially if you own your own business. If you’ve registered to do business as a legal business entity such as an LLC, a corporation, a limited partnership or a nonprofit organization, be sure to review your annual compliance obligations. It's also a good time to check your company's contracts for expiration dates or renewal deadlines.


Compass curious and want to learn more? We will be offering some fun online events in January to help you get to know us better. Email us HERE to RSVP for one of the following dates:

Jan 5 or 19 - Compass lunch at 12 noon EST

Jan 12 - Compass cocoa or cocktails - 8 pm EST


Our next course starts Feb. 2, 2021! Let us help you create a 360 degree life plan to take you into 2021 and beyond. Get Grounded For Life with Woman's Compass Forum.

Wishing you all a healing, hopeful and empowering new year!

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