Year-End Financial Planning Ideas

If it's not too early for stores to put out Christmas decorations, then it's not too early to think about year-end financial planning.

Here are some items to review over the next few months.

1. Retirement Plan Contributions

Now is the time to see if you are on pace to max out your retirement contributions for the year. If not, consider changing how much you contribute or if your plan allows -- whether it's a , or . In addition, consider putting most or all of any bonus you receive into the plan. Do the same for IRA and Roth IRA contributions as well. The is $6,000 unless you're 50 or older, then it's $7,000. You may also want to consider converting some of your traditional IRA funds to . You'll pay taxes on the amount you convert, but all future gains and qualified withdrawals would be tax-free.