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  • Writer's pictureLeyder "Aiden" Murillo, MBA

5 Financial Things to Consider for Your End of the Year + Free Resources Included

Updated: Jan 2

5 Financial Things to Consider for your End of the Year - Wolfpack Wealth Management, calendar, planner, clock on table

Navigating Through the Financial Maze to a Prosperous New Year

Embarking on a journey toward financial stability and prosperity requires mindful navigation through the intricate mazes of financial planning. As the calendar pages turn, ushering us into the brisk winds of the year-end, a moment of reflection poses not merely as a suggestion but a necessity. A prosperous New Year is not gifted but meticulously crafted through thoughtful financial considerations and strategic planning.

Imagine welcoming the New Year with a robust wealth management plan that accommodates your current financial stature and paves the way for future fiscal growth. The end of the year presents a pivotal moment to reassess, recalibrate, and re-strategize your financial blueprint, ensuring that it is not only attuned to the present but also futuristically resilient.

The Significance of Tailored Financial Guidance

In the vast expanse of financial management, a 'one-size-fits-all' approach hardly ever finds its footing. Athletes, educators, married couples, young professionals, and small business owners – each group encounters unique challenges, aspirations, and milestones while traversing through the same financial landscape.

For athletes, sustaining a steady financial stream post-retirement necessitates a well-rounded investment strategy that's as dynamic and robust as their sporting careers.

Educators, molding the future one student at a time, require a financial plan that accounts for potential summer income fluctuations and leverages available tax deductions.

Married couples weave their financial tapestries together, navigating through joint filings, shared assets, and collaborative financial goal-setting, demanding a plan as unified and symbiotic as their journey.

Young professionals stepping into the financial arena need to judiciously juggle debt management, investments, and future savings, crafting a balanced approach that underpins their burgeoning careers.

Small business owners, steering their ventures through the turbulent waves of market dynamics, need a plan that provides financial buoyancy, safeguarding not just their business but their financial health as well.

The layers of complexity that wrap around each of these entities demand not just advice but guidance that is meticulously tailored, artfully crafted, and astutely aware of their unique circumstances and aspirations.

Wolfpack Wealth Management: Your Partner in Prosperity

At Wolfpack Wealth Management, we understand that your financial journey is uniquely yours. We are available in Denver, Los Angeles, and digitally nationwide; we pride ourselves on curating wealth management solutions that are not mere reflections of your current fiscal status but are visionary maps guiding you toward sustainable prosperity. With a robust plan crafted especially for you, peace of mind isn't just a possibility – it's prosperity.

Embrace the dawn of a New Year with financial serenity, navigate through your financial journey with a reliable partner, and allow Wolfpack Wealth Management to be the compass that guides you towards a future where your wealth not only grows but thrives.

In the sections to follow, unravel the vital strands that weave into the tapestry of end-of-year financial planning and embark on a journey toward a prosperous tomorrow today.

Year-End Tax Strategies

The fiscal finale of the year does not merely signal the countdown to welcome a new year but also rings the bell for opportune moments to strategically shape your tax scenario. Effective tax strategies, thoughtfully implemented at the year-end, can pave the way towards an optimized financial stature, cushioning your wealth against unnecessary tax burdens and securing a foundation for a prosperous future.

General Tax Tips to Harvest Financial Tranquility

Exploring avenues like utilizing deductions, harvesting losses, and contemplating charitable donations can make the tax landscape feel less daunting and more yielding. With every receipt saved, every deduction claimed, and every donation made, envision a route towards a financially serene new year where your wealth is not merely retained but cultivated.

Athletes: Maximizing Deductions Through Career Expenses

Athletes, the torchbearers of sportsmanship and dedication, should shine a light on their finances with equal enthusiasm. Diving deep into deductions specific to training expenses, equipment procurement, and travel can carve out a financial strategy that doesn't merely save but scores in the long run. Leveraging these expenses can potentially buffer your tax liabilities and foster a seamless transition into the next earning season.

Educators: Nurturing Finances with Intelligent Deductions

Educators who kindle the flame of knowledge and curiosity in young minds deserve a financial plan that honors their commitment. The Educator Expense Deduction becomes a potent tool, allowing them to mitigate financial expenditure on classroom supplies and similar expenses. By consciously applying such deductions, educators can cultivate a financial environment that is both rewarding and sustaining.

Married Couples: Embarking on a Unified Financial Journey

Married couples, intertwining not just lives but financial destinies too, stand before opportunities that beckon unified tax strategies—exploring the territories of joint filing benefits and uncovering potential deductions crafts a financial tandem that doesn't just navigate through the fiscal year but triumphs over it, guaranteeing a harmonious financial future, together.

Young Professionals: Balancing Aspirations with Financial Wisdom

At the nexus of burgeoning careers and evolving financial responsibilities, young professionals must stride with a balance that anchors their aspirations. Navigating through the considerations of student loan interest deductions and the fiscal debate between renting and home ownership, young professionals can blueprint a financial strategy that is both vibrant and viable.

Small Business Owners: Piloting Towards Prosperous Decisions

Small Business Owners who sail their ventures through ever-changing economic seas require a compass that points towards astute financial decisions. Elements like equipment purchases, business travels, and employee bonuses not only strengthen the structure of the business but also design a course towards minimized tax obligations, steering the enterprise towards unfettered horizons.

Ensuring each penny saved through astute tax strategies is a penny earned, the wealth compiled will not only serve to solidify your present but also cascade towards a future where financial peace of mind is not a distant dream but a tangible, lived reality.

With Wolfpack Wealth Management, navigate the intricacies of tax planning, ensuring your financial journey is prosperous and peaceful. Our skillset, spanning Denver, Los Angeles, and digitally across the nation, stands ready to be your ally in this fiscal journey, safeguarding your wealth and championing your prosperity.

In the following sections, explore how to weave these strategies into a robust financial plan, allowing your wealth to grow and flourish under the vigilant watch of expert planning and strategic foresight.

Prudent Steps with Retirement Account Contributions

Retirement – a horizon that brings visions of tranquil sunsets and carefree tomorrows, is sculpted not just by the dreams we harbor but also by the financial steps we take today. Engaging with our retirement accounts, be it an IRA, 401(k), or alternative vehicles, is not mere participation in a financial ritual but a conscientious crafting of a future where peace of mind and financial security are steadfast companions. Let's unveil the strategies that secure your finances and your serenity in the chapters of life that await beyond your career.

General Tips: Safeguarding the Future with Thoughtful Contributions

Intertwining your financial threads with strategies like maximizing contributions to IRAs and 401(k)s offers a future where financial stability is not a pursuit but a well-established reality. Such endeavors shield your forthcoming days with financial security and weave a safety net that holds your dreams and aspirations with unwavering stability.

Athletes: Crafting a Secure Finish Line with Early Retirement Planning

Athletes, whose careers often sprint on tracks of unpredictability, stand before a unique fiscal challenge – to convert transient peaks of earnings into a steady stream that flows through the years of retirement. Early retirement planning, thus, becomes not an option but a crucial strategy, ensuring the applause and roars of the arena echo well into the future, both in memory and financial security.

Educators: Channeling Financial Stability Through Tailored Plans

Educators, the architects of the future, deserve a retirement sculpted with utmost fiscal care and foresight. Delving into the benefits of 403(b) and 457(b) plans, educators can navigate towards a retirement where they are the students, learning from their travel tales, all while enveloped in steadfast financial comfort.

Married Couples: Nurturing a Shared Future with Spousal IRAs

Married Couples, whose futures are entwined in shared dreams and aspirations, find in spousal IRAs a financial vessel that sails smoothly into the seas of retirement. Nurturing such contributions enables a path where the journey into the sunset years is adorned not with financial worries but with shared moments of peace and togetherness.

Young Professionals: Harnessing the Might of Compound Interest

Young Professionals stand at a precipice where every penny saved spirals into a future dollar. The undeniable power of compound interest, especially when harnessed from a tender career age, molds a future where financial worries are tales of the past, and the retirement chapters are written with the ink of financial liberty and security.

Small Business Owners: Steering Towards a Stable Future with Strategic Plans

Small Business Owners, the helmspersons of their ventures, need to carve a route that assures their personal financial stability is as steadfast as their business. Leveraging the advantages of SEP-IRAs or solo 401(k) plans anchors their financial future and ensures that their entrepreneurial journey sails smoothly into the harbors of retirement.

As each section unwinds, it reflects not mere strategies but beacons that guide toward a retirement that resonates with tranquility and assurance. With Wolfpack Wealth Management, your journey is navigated with adept care, ensuring the paths chosen to lead to financial abundance and a serene, secure future.

Your retirement isn't just a phase; it's a reflection of your life's work, care, and strategic planning, and we stand with you, ensuring every step taken is a stride toward stability and peace of mind. In the forthcoming sections, let's continue to weave through the fiscal strands that compile into a tapestry of stable, serene tomorrows.

Navigating through the Sea of Investments and Asset Allocation

Investments and asset allocation – are terms that resonate not just as financial jargon but as the sails that guide our wealth through the varying tides of economic times. Ensuring these sails are robust and aptly oriented guarantees that our financial ship not only withstands the storms but emerges triumphant, arriving at a future that is not just wealthy but peaceful and secure.

General Tips: Steering through the Market with Reflective Rebalancing

Ensuring your financial vessel sails smoothly through the oft-turbulent market seas requires a periodic reflection on the year's market performance and a willingness to recalibrate or rebalance where necessary. A well-balanced ship is less prone to capsize amidst economic upheavals, safeguarding your wealth journey through calm and storm alike.

Athletes: Fortifying Wealth with a Diversified Portfolio

Athletes, embedded in careers that often witness swift tides of change, should etch a financial path that is secured against the uncertain terrains of their professional journeys. A portfolio, diversified not just in assets but in strategy, ensures that the financial echoes of your sporting triumphs reverberate long into your future, crafting a stable and secure legacy.

Educators: Safeguarding Futures with Pension and Retirement Reviews

Educators devoted to sculpting futures must be bestowed with a retirement carved with equal diligence and care. A meticulous review of pension plan health and supplemental retirement accounts ensures that your financial ship sails into retirement with sails that are as sturdy as the knowledge and values you've instilled in generations.

Married Couples: Charting a Course Through Joint Goals and Risk Assessments

Married Couples embarking together on life's financial journey should navigate through joint financial goals and engage in collective risk tolerance assessments. Your shared financial seascape should be mapped with a keen understanding of each other's aspirations and apprehensions, ensuring that the journey ahead is navigated with unity and mutual respect.

Young Professionals: Leveraging the Tides of Risk and Long-term Strategy

Young Professionals stand at the shore of numerous possibilities, where the importance of risk-taking and forging a long-term investment strategy becomes paramount. While the seas of risk may seem daunting, remember that with calculated strategies, these high risks pave the way toward a future that is not just prosperous but abundantly serene.

Small Business Owners: Crafting a Voyage Balanced in Personal and Business Investments

Small Business Owners tasked with steering personal and business financial ships must carve a course ensuring neither vessel is compromised. Balancing personal and business investments assures that your entrepreneurial spirit sails through times of calm and storm alike, permanently anchoring securely in the harbors of financial peace and stability.

Embarking on a journey through investments and asset allocation can be as daunting as it is exciting. However, with the right strategies and a trusted companion in Wolfpack Wealth Management, you're not navigating these seas alone. In the subsequent sections, continue to explore how to sculpt a successful financial journey that envelops you in a tranquility that only proper financial security can provide.

Wolfpack Wealth Management spans across Denver, Los Angeles and is available digitally nationwide, dedicated to ensuring that your journey through the financial seas is navigated with skill, expertise, and a dedicated hand on deck, always steering you towards peaceful and prosperous horizons.

Sowing Seeds of Tranquility through Estate and Insurance Planning

The future, an expanse yet to unfold, carries with it the promise of unseen joys and the onus to safeguard those joys for the ones we hold dear. Estate and Insurance Planning is not merely a financial task but a heartfelt letter to our future selves and our loved ones, ensuring that the fruits of our life's endeavors cascade through time, nurturing generations with stability and serenity.

General Tips: Nurturing Your Legacy through Updated Wills and Beneficiaries

More than a document, a will is a message to the future, ensuring your assets cradle your loved ones with stability and care. Regularly updating wills, trusts, and insurance beneficiaries ensures that your wealth is preserved and a gentle, nurturing force for those you hold dear, through times seen and unseen.

Athletes: Shielding Triumphs with Asset and Earning Protection

Athletes, bearers of fleeting career spans, must employ a defense as robust in their financial arena as in their sporting endeavors. Engage in a strategy that protects your current assets and enshrines your future earnings, ensuring that the spotlight of financial stability continues to illuminate your path, even when the roars of the crowd are cherished memories.

Educators: Crafting a Legacy with Thoughtful Pension and Benefit Planning

Educators, torchbearers who illuminate paths, deserve a future where their path is gently lit by financial stability. Special considerations for pension and survivor benefits ensure that your light continues to shine brightly, guiding not only the generations you've educated but also providing a warm, steady glow for your loved ones in times to come.

Married Couples: Weaving Together Futures through Joint Estate Planning

Married couples embark on a shared journey where dreams and fears are held together. Joint estate planning becomes a testament to your shared aspirations and a protective shield, ensuring that the journey of the one left behind continues to be enveloped in the warmth of financial security and the gentle embrace of meticulously crafted plans.

Young Professionals: A Primer to Life Insurance and the Promise it Holds

Young professionals stand at the cusp, where dreams are bold, and the future is a canvas yet to be painted. An introduction to life insurance, not as a solemnity but a beacon, ensures that the hues of your endeavors color not just your journey but continue to paint strokes of stability and assurance for those you cherish far into the future.

Small Business Owners: Steering the Ship with Succession Planning and Key Person Insurance

Small Business Owners, your endeavors steer not just your financial ship but that of your enterprise and those employed therein. Employing business succession planning and critical person insurance ensures that the vessel you've so painstakingly built sails steadily through future tides, harboring both your personal dreams and the livelihoods of those within, securely and with unwavering stability.

Navigating through Estate and Insurance Planning with Wolfpack Wealth Management, your endeavors are not simply managed; they are cherished, respected, and molded into a legacy that traverses time, sowing seeds of tranquility for you and the ones you hold dear.

With experience across Denver, Los Angeles, and through digital realms, Wolfpack is steadfast in ensuring that the paths you carve through financial landscapes are prosperous but serene and secure, whispering promises of stability through the winds of the forthcoming times.

Navigating the Horizon: Setting Aspirational yet Achievable Financial Goals for the New Dawn

With the dawn of a new year arises the potential to embark on new journeys, to set sail toward financial tranquility, safeguarding dreams and ambitions in a vessel crafted meticulously by deliberate and informed financial planning. Setting financial goals isn't just an economic task; it's imbuing future endeavors with foresight, painting our journey forward with strokes of stability and assurance.

General Tips: Charting Your Financial Odyssey with Pragmatic Planning

Understanding that every expedition needs a map, the importance of forward-looking planning is underscored by setting achievable financial milestones that serve not as daunting tasks but as stepping stones, gently guiding your traverse through the financial landscape, ensuring a journey that's not just prosperous but peaceful.

Athletes: Sculpting Financial Stability Beyond the Field with Post-Retirement Goals

Athletes, your journey has been defined by targets, and in the realms of financial planning, the targets morph into goals set for post-retirement careers. Adorn your future not with uncertainties but with carefully sculpted plans, ensuring that the accolades of stability and financial security continue to be yours off the field.

Educators: Harnessing Summer Opportunities and Advancing Through Continued Education

Educators, your summers, bathed in respite, also unfold as opportunities for supplemental income and advancements through continued education. Convert these opportunities into immediate gains and stepping stones towards a future where financial peace of mind complements your unwavering dedication to nurturing minds.

Married Couples: Crafting Harmonious Futures through Unified Financial Planning

Married Couples, your journey, woven together with threads of shared dreams and aspirations, beckons for joint financial goal planning sessions that weave your financial tapestry with not just numbers but with shared visions, ensuring the path forward is not just stable but resonates with shared dreams and collective tranquility.

Young Professionals: Balancing the Scales with Debt Reduction and Savvy Saving

Young Professionals, as you stand at the precipice of countless tomorrows, prioritizing debt reduction and saving for significant life events ensures that financial anxieties do not mire your forward march but are a journey where each step echoes with the reassurance of stability, carved by prudent planning and rational saving.

Small Business Owners: Propelling Forward with Strategic Business Milestones

Small Business Owners, as you steer your enterprise through commercial landscapes, let your sails be guided not by the erratic winds of market fluctuations but by strategic planning for expansion, hiring, or product launches, ensuring that your vessel is not merely seaworthy but is navigating with precision toward prosperous horizons.

The year ahead unfurls as a canvas yet to be painted. With Wolfpack Wealth Management, your financial endeavors are colored not just with the hues of prosperity but with shades of tranquility and peace of mind, ensuring that your journey through the financial landscapes of Denver, Los Angeles, and the digital realms is not just secure but serene, where every milestone is not a checkpoint but a celebration, a gentle reminder of the stability that cradles your financial journey.


Important Tax Numbers: A comprehensive guide to updated tax figures, brackets, and deductions relevant to each group.

2023 Tax Numbers Reference
Download PDF • 171KB

End of Year Financial Review Checklist: A guide to ensuring a thorough financial review for the year-end, tailored for our specific audience groups.

What Issues Should I Consider Before The End Of The Year 2023
Download PDF • 155KB

Your Takeaways

The ocean's calm after a vibrant sunset provides a serene space for reflection, pondering upon the journey undertaken and charting the course forward. Much like this tranquil moment, the end of the year unfolds as a timeless opportunity for reflection and foresighted, strategic planning, ensuring the horizons ahead are not just traversed but cherished, journeyed with financial peace gently cradling your endeavors.

Anchoring Stability with Year-End Reflections and Proactive Financial Planning

As we stand at the cusp of a new dawn, let's allow the year's end to serve not as a finish line but a viewpoint from where we observe, analyze, and strategize, crafting a financial future that's not just prosperous but soothing, where every monetary decision echoes with the quiet assurance of stability and serenity.

Tailoring Your Financial Sails: Strategies Customized for Every Journey

Through the lenses of various lives, from Athletes and Educators to Married Couples, Young Professionals, and Small Business Owners, we understand that every financial journey is inherently different, warranting strategies that are meticulously tailored, ensuring your financial health isn't just maintained but nurtured, guiding you toward a future where financial aspirations and peace of mind sail side by side.

Strategies Carved with Precision

Every strategy, precisely chiseled, considers the nuanced financial landscapes you traverse, ensuring the advice you imbue into your journey isn't just knowledgeable but resonates deeply with your specific, unique financial endeavors.

Ensuring a Comprehensive Review with Reliable Resources at Your Helm

Utilize the "Important Tax Numbers" and "End of Year Financial Review Checklist" as your navigational tools, ensuring every aspect of your financial journey is considered and strategically planned for, turning potential financial tribulations into smooth sailing toward serene financial futures.

Wolfpack Wealth Management: Your Committed Co-Navigator in Your Financial Journey

In Denver, Los Angeles, and across the nation through our digital consultations, Wolfpack Wealth Management stands as your unwavering partner, dedicated to assisting you in crafting not just a financially secure future but a voyage where every financial decision brings you closer to your aspirations, enveloped in peace of mind and steadfast assurance.

Reflecting upon the financial seas we've traversed together, let's allow the tranquility and assurance of well-crafted planning to permeate every future financial decision, letting the gentle waves of stability and prosperity guide our journey forward. With tailored strategies and a dedicated team by your side, may the financial horizons ahead be prosperous and peaceful, ensuring your sails are always billowing with the winds of assured financial tranquility.


Ready to take control of your financial future? Schedule your free financial assessment and discover how working with a wealth management advisor is accessible and helpful in reaching your financial goals. Start building the future and wealth you deserve.

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