Why December Is Too Late for Year-End Financial Planning

Waiting until December to tackle year-end distributions, tax planning, or charitable giving can lead to rushed decisions and missed deadlines. In this monthly check-in, Colin Meeks breaks down why fall is a sensible time to review key life changes and financial housekeeping before the holiday shutdown.

Many year-end items carry a December 31 deadline, including certain distributions, charitable giving, benefit elections, and funding accounts such as ABLE accounts, retirement accounts and 529 plans. Offices close, people travel, and investment companies, insurance companies and charities get backed up, so work started in December may be done hastily and with fewer options.

Colin's approach is to decide in the fall and execute in December. He also asks a short set of questions about what has changed in your life this year, such as a new child or grandchild, a property sale or purchase, a large bonus or inheritance, a parent moving in or into care, or a spouse retiring. His office tracks what it can see, but it cannot see those changes unless you mention them. If something has changed, you can [schedule a call](/schedule/) while there is still time to act.