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The Ultimate End-of-Year Financial Planning Task List

updated March 2021

It’s time to start looking ahead to what’s in store for you and your clients in 2021. By organizing your needs and remaining to-dos you’ll be in the best position to guide your clients to financial success in the new year.

Reviewing Items on Your Plate:

You can probably think of at least five things you would like to see more of your clients take ownership of. It’s time to check those off and get them out of your way so you can focus on more challenging or time-consuming items. Simpler tasks to address first might include:

  • Reviewing spending habits
    • Examining spending habits at the end of the year is beneficial for budgeting tools and goal planning
  • Prepare taxes
    • Review withholdings and IRS changes on retirement contributions to get a head start on preparing clients for tax season
  • Review benefits
    • If your client has a 401k or HSA, the end of the year is the perfect time to plan for any changes in 2020
  • Discuss life changes
    • If marriage, divorce, kids or any major lifestyle changes have occurred over the past year, it’s important to review client will and estate needs
  • Organize Charitable Donations
    • If your client has donated to charities over the past year, they will need to decide on whether they are going to itemize them or take a standard deduction when they file their taxes.

Outstanding Debt or Assets

  • Address any debt issues they have including investment losses
  • Identify any strategies that need to be adjusted for an inherited IRA

Savings & Cash Flow

  • Check for opportunities for additional savings
  • Clients over age 50 can make additional contributions to a retirement fund

These tips are here to ensure a smooth transition into 2022 for both you and your clients.

Abacus Life Settlements functions as a leader in the secondary market for life insurance. Our primary mission: work to help you understand your financial options. If you decide selling all or a portion of your policy is right for you, we can offer to purchase it from you at fair market value. We will provide all the numbers and details to show you how we determined its value and our offer, and if you decide to accept our offer we will provide you a lump sum amount and then take on all future obligations for the policy, including premium payments. 
Check out our Market Value Calculator to learn the true value of your Policy. 

For additional Financial Planning Task List resources, please refer to the links below:


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