Year-End Financial Checklist: Maximize Your Savings and Tax Benefits Before 2026

As 2025 draws to a close, now is the perfect time to review your finances and make smart moves that can boost your savings and reduce your tax bill. At LG&E Co. Credit Union, we encourage our members to take advantage of year-end opportunities that set the stage for a strong financial future.

Key Year-End Financial Moves to Consider

1. Max Out Retirement Contributions

Contributing the maximum to your IRA or 401(k) before year-end can lower your taxable income and grow your nest egg. Check contribution limits and deadlines soon.

2. Review Your Tax Withholdings and Deductions

Look at your current tax situation and adjust withholdings if needed. Gather receipts for deductible expenses like charitable donations or medical costs.

3. Contribute to a Health Savings Account (HSA)

If you have a high-deductible health plan, putting money into an HSA offers triple tax benefits—pre-tax contributions, tax-free growth, and tax-free withdrawals for medical expenses.

4. Rebalance Your Investment Portfolio

Evaluate your asset allocation to make sure it aligns with your goals and risk tolerance. Consider tax implications before selling investments.

5. Check Your Credit Report and Score

Use the free annual credit report to check for errors or signs of fraud. A healthy credit score can impact loan approvals and interest rates next year.

6. Plan for Charitable Giving

Make charitable donations before December 31 to qualify for tax deductions. Consider donating appreciated stocks to maximize benefits.

How LG&E Co. Credit Union Can Help

We offer financial counseling and tools to guide your year-end planning. Whether it’s helping you understand retirement accounts, set up a tax-advantaged savings plan, or check your credit health, our team is ready to assist.

Start 2026 Strong

Taking these steps before year-end can save you money and reduce stress. Set yourself up for a successful 2026 by reviewing your finances now. Reach out to LG&E Co. Credit Union to explore options tailored to your needs.