What Financial Moves Should Women Prioritize as 2024 Comes to a Close?

As the year winds down and the political landscape shifts under the anticipated policies of President Trump, Melissa Joy, CFP®, CDFA®, unpacks the key financial strategies women should focus on to optimize their year-end planning. With potential changes to tax policies—including adjustments to the standard deduction and estate tax limits—Melissa offers expert insights to help you navigate the complexities and prepare for a prosperous 2025.

This episode dives into actionable tactics, from maximizing retirement contributions to making strategic property tax decisions, all aimed at setting a strong financial foundation. Additionally, Melissa explores innovative ways to maximize your charitable giving, leverage tax advantages, and celebrate your financial achievements during this reflective season.

Key Takeaways:

• Navigating Potential Tax Changes: Understand how upcoming shifts in tax policies, including the standard deduction and estate tax limits, might impact your financial plans and what steps you can take now to stay ahead.
• Year-End Tax Optimization Tactics: Learn how to maximize your retirement contributions, make strategic decisions about property tax payments, and take advantage of key deductions before the year ends.
• Smart Charitable Giving Strategies:
  • Explore the benefits of donor-advised funds and Qualified Charitable Distributions for retirees over 70½.
  • Discover how to utilize the $17,000 annual gift tax exclusion to benefit loved ones.
  • Consider gifting appreciated stock to reduce capital gains taxes while making a meaningful impact.
• Reflecting on Wins and Giving Back: Celebrate your financial achievements in 2024 and explore heartfelt ways to give during the holiday season that align with your values and goals.

Whether you’re preparing for changes in tax laws, planning your charitable contributions, or reflecting on your financial journey, this episode is filled with actionable tips to help you end the year strong and step into 2025 with confidence.

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