During tax season, it's important to be prepared to get the most out of your returns and avoid surprises. Equitable® has a few key suggested items for you to check off your to-do list:
- Know your contribution limits
If you have been holding on to extra cash due to uncertainty, consider investing it for retirement or other savings goals. Moving funds to registered accounts with Equitable can help you achieve your financial goals. Making sure you know your contribution limits can help you save on taxes.
- Review your beneficiary designations
Outdated beneficiary designations can cause distributions that don't match your wishes. Reviewing beneficiary designations annually can prompt important estate planning discussions. Have you updated your Will or Power of Attorney documents recently? Checking your beneficiary designations to ensure they match your current life situation can help you plan for the future.
- Understand your investor profile
As you move into different life stages, your risk tolerance may change. Have you had a major life change that requires a new approach to investing? Perhaps you got married, divorced, or had a child. Maybe you purchased your first home! Now might be a good time to meet with your advisor to review your investor profile and rebalance your portfolio.
Taking care of these key items can help you feel more prepared for tax season and your financial future.
Speak to your advisor for more information. If you do not have an advisor and would like to speak to one, call us at 1-800-668-4095 and our customer service team would be pleased to have an advisor in your area contact you.
