6 steps to take now so your financial life will be off to a good start in 2020

6 steps to take now so your financial life will be off to a good start in 2020  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  VIEW IN BROWSER | SUBSCRIBE WED, DEC 04, 2019 YOUR WEALTH Editor's Note With the holiday season upon us, it can be tough to focus and find the time to organize your financial life. It may seem easier to simply push off your financial planning until next year and add it to the list with all of your other New Year's resolutions. However, financial experts say there's no time like right now to go over a year-end financial checklist. I spoke with some financial advisors and they shared financial moves they ask their clients to consider making before the end of the year. Here are several examples: Max out company retirement plan contributions; reduce taxable income; review required minimum distributions; do a Roth IRA conversion; defer and accelerate business expenses; review estate plans; prepare charitable donations and planned giving; review health insurance and your health savings account; check your flexible spending balance and contribute to a 529 college savings plan. Now is actually the ideal time to review your financial strategies before year-end deadlines hinder your plans. Taking a few moments to plan smarter can help you take advantage of financial opportunities to help grow your wealth and get you closer to reaching your personal goals. For more cool stuff like this, please follow me on Twitter @jimpavia and check out CNBC's Financial Advisor Hub and CNBC + Acorns Invest in You: Ready. Set. Grow. Jim Pavia @JIMPAVIA 6 steps to take now so your financial life will be off to a good start in 2020 Before you know it, you'll be ringing in 2020 and making a list of New Year's resolutions. Here's why it's a good idea to get ahead of things now. These tips can help retirees make required minimum distributions easy and tax penalty free Dec. 31 not only marks the end of the year, it's also the deadline for retirees and inheritors of retirement accounts to take their required minimum distributions. Here's how to do it without running afoul of the rules and having to pay a penalty. Market will give Fed a 'punch to the mouth' in 2020, a top market analyst says Bianco Research's Jim Bianco says the Fed hasn't been tested with a "punch to the mouth" that could drastically alter its plan. One could be around the corner. 'Tax Cuts 2.0' could include a rate reduction for the middle class. Here's who would benefit most The idea is to lower taxes on America's middle earners in a package dubbed "Tax Cut 2.0." Yet one of the early ideas floated — reducing the 22% marginal rate to 15% — could miss the mark. The fastest-growing jobs for 2020 that offer remote and flexible work options Many of the fastest-growing occupations identified by the Bureau of Labor Statistics also come with flexible work options, such as a remote arrangement, a flexible or part-time schedule or freelance work. Here are the jobs to watch in 2020. Almost no one has these three essential things you need in case of an emergency Three things that can reduce emotional pain and suffering during those difficult times that no one's really prepared for. Why advisors encourage these older investors to buy more stocks Just because you're approaching retirement doesn't mean you have to shy away from stocks. Financial advisors discuss why it may make sense for investors to step up their equity allocation — particularly if they can count on pension income. Advice that will save you headaches this year and prevent financial strain Being able to afford gifts for all of your loved ones can be difficult. Samantha Barry, editor in chief of Glamour, has some advice that will save you holiday shopping headaches this year and prevent financial strain down the road. The big thing investors have trouble accepting "Morgan Housel has been enlightening me for a decade now. We had him come by and talk about some of the biggest mistakes and misconceptions that plague investors year after year ..." CONTRIBUTORS Sharon Epperson @sharon_epperson Josh Brown @ReformedBroker Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel   Digital Products Feedback Privacy Policy CNBC Events   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS