Here are some of my clean-up activities:
- Liquidate my insurance investments - done
- Transfer insurance proceeds to investment accounts at Vanguard - 80% done
- Make end of year 401k contributions - done
- Make end of year custodial roth contributions for children - done
- Set-up new custodial roth accounts at Vanguard for children - done
- Move 529 investments from Illinois' expensive and cumbersome Bright Start Beginnings program to Vanguard's 529 - in process (waiting for the roll over)
- Roll-over / transfer our IRA accounts from Schwab to Vanguard (paper work done, waiting on asset transfers)
- Make final flex spending reimbursement requests
- Make final dependent care reimbursement requests
- Change payroll deductions for wife (moved flex and dependent care to my payroll at Big Company)
- Set wife's 401k savings rate to 27% of paycheck
- Elect my benefits - select maximum 401k contribution rate per paycheck
- Cancel short term disability insurance (no longer needed now that baby delivered)
- Order extra birth certificates for new baby (10)
- Configure Quicken to download Vanguard information
- Use Quicken's account management feature to remove inactive accounts from the navigation bar and re-order accounts for improved visability
- Set-up on-line accoutns with Vanguard to facilitae #15 and track transfers
- File some of the loos papers on my desk (3 feet worth of papers)
The following are activities I haven't had time to do, but should have been doing:
- Finish filing (and scanning) loose papers
- Migrate old files from 2004 into file cabinets used for storing old documents
- Scan entire living trust / estate plan & share with IL attorney to get estimate for re-domiciling trust
- Transfer assets and close my remaining accounts at Schwab (except my trading account SNDA is making a turn-around from 12 to 21 per share)
- Move my individual 401ks to Fidelity (Vanguard doesn't have such)
- Move college saving money from my money market into my brokerage account into a balanced mutual fund - at year end 2007 I will put it into the 529
- Move money in new Vanguard accounts into their target retirement 2025 mutual fund
- Identify and establish asset allocation for my 401k at Big Company
- Create an end of year summary for 2006's accomplishments
- Cancel excess insurance policies (not within our irrevocable life insurance trusts (ILITs))
- Identify lessons learned for 2006
As you can tell, I still have alot to do. Most of which will be addressed in the first two week's of next year.
Am I missing anything?
What are your year end financial housekeeping activities?
Regards,
makingourway
2 comments:
I'm just doing some accounting tidying up. Will wait to get all relevant statements/W2 before starting my tax prep (though most of the stuff is already in spreadsheets I maintain year around).
How is your 401k contribution 50% of your paycheck?
moom, what I meant to say was to max out my 401k contribution is quickly as possible. My employer limits 401k contributions to no more than 50% of any given paycheck. In my situation, I'm uncertain what % they have initially set me with - as an end of year hire I was subject to benefits enrollment for 2006 and 2007 within a few hours of each other.
regards,
m
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