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December is here and it means that 2008 is just around the corner. Most people tend to start relaxing and enjoy the holiday celebration. With work starting to slow down, it is the perfect time to start looking into a few things before the year is over!

Roth IRA - If you haven’t already done so, start contributing up to $4,000 ($5,000 if you are 50 or older) for the year 2007. The deadline is April of 2008 for this year’s contribution, but don’t put it off as April will be here before you know it.

401k - You should at least look at your 401k plan periodically to see if there are any adjustments that need to be made. You should also consider increasing your contribution percentage for next year so you can save more money! Those that recently got a raise should seriously consider this because you won’t know the difference of contributing more as your take home money would not decrease.

Another thing to check your 401k plan for is your asset allocation. It is always a good idea to review your fund selections to make sure it matches with your objectives. Consider seeking financial advice here too as your 401k often provides this for free!

2007 and 2008 Goals - Those that made financial goals for this year should check to see if you are on track to make them since you should know by now. It is always a great time to start thinking about next year’s goals. Use your current year results to adjust your goal so it is hard to reach but achievable.

This is a small sample of many things that we can do to keep our financial health in check. I’m sure all of you have other great suggestions so share with us on what we can do!

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This entry was posted on Monday, December 3rd, 2007 and is filed under Advice. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.