Financial To-Dos: Overlooked Tasks and Tips to Rectify
* IRA Contributions:
* Consider automated IRA contributions to maximize retirement savings, potentially gaining up to $550,000 over 30 years.
* Roth Conversion:
* Convert 'backdoor' contributions to Roth shortly after contribution to minimize taxes on potential gains.
* HSA Investments:
* Invest HSA funds to tap into tax-free benefits.
* Invest in line with HSA usage, balancing savings and investment options.
* Beneficiary Designations:
* Review and update beneficiary designations annually to reflect life events, estate plans, and investment changes.
* Seek guidance from an attorney for optimal designations when creating an estate plan.