Year-End Retirement Checklist
As the year wraps up, many of us start thinking about what we want the next chapter to look like. And if retirement is on your mind, the end of the year is the perfect time to check in, reset, and set a few realistic goals for the new year.
10 Simple Steps to Maximize Your 401(k) & IRA
This Retirement Resolution Checklist will help you get organized in a way that feels simple and not overwhelming. Whether you’re building momentum, catching up, or finally getting serious about retirement planning, these steps can help you start the new year feeling more prepared and more confident.
1. Revisit Your Retirement Goals
A great first step in any year-end retirement planning checklist is reconnecting with the vision you have for your future.
Ask yourself:
- “What does a comfortable retirement look like for me?”
- “Do I picture more travel, more free time, or part-time work I enjoy?”
- “What kind of lifestyle do I want to support?”
Knowing your “why” makes the rest of your planning clearer and helps you set meaningful resolutions.
2. Review Your 401(k) and IRA Contributions
One of the most important year-end retirement planning tasks is checking your contributions for the year.
Here’s a quick refresher on timing:
- 401(k) contributions: Typically must be made by December 31st.
- IRA contributions (Traditional, Roth, SEP): Can usually be made up until the tax filing deadline in April.
If you didn’t contribute as much to your IRA as you wanted in 2025, you still have until the tax filing deadline in April 2026 to add to it.
3. If You’re 50 or Older, Look at Catch-Up Contributions
If you’re 50 or turning 50 soon, catch-up contributions are a powerful tool in your retirement toolbox. These extra contribution allowances can help you:
- Close savings gaps
- Maximize long-term growth
- Strengthen your retirement cushion
You don’t need to know every rule or limit to benefit. Simply checking whether you can add a little extra to your 401(k) or IRA before the year ends can make a meaningful difference.
4. Consolidate Old Retirement Accounts
One way to end your year on a high note is to roll over old accounts. If you have a 401(k) from a past employer or an IRA you haven’t checked in a while, consolidating can help:
- Reduce fees
- Simplify tracking
- Keep your investment strategy consistent
- Give you one clear view of your retirement progress
Heading into the new year with your retirement accounts organized can make your whole retirement strategy feel lighter and more manageable.
5. Check Your Investment Mix
Your investment mix, whether it’s stocks, bonds, mutual funds, or ETFs should support your long-term retirement goals. ETFs can offer broad diversification and usually lower fees than mutual funds, making them a strong option for long-term retirement savings.
As the new year approaches, take a moment to check in if your current investments match your comfort level with risk and where you are in your retirement timeline.
If you prefer a more hands-off approach, a target-date fund can adjust your investments for you, gradually shifting to lower-risk options as you get closer to retirement while still giving your money room to grow.
Be Retirement Confident.
Roll over all your old 401(k)s into a PensionBee Individual Retirement Account (IRA). It takes just a few minutes to sign up.
Get started6. Review and Consider Reducing High-Interest Debt
Retirement planning isn’t only about saving more, it’s also about owing less. Carrying high-interest debt into retirement can limit your options later. The end of the year is a natural time to take stock and reflect on any debts you may have and how they fit into your overall retirement plans.
7. Update Your Beneficiaries
This is one of the most overlooked items in year-end retirement checklists. Updating your beneficiaries is a quick task with lasting significance. If you’ve had a life change like marriage, divorce or children. It can be a good idea to make sure the right people are listed on your 401(k) and IRA accounts. This simple step can save your loved ones a lot of headaches later.
8. Maximize Your Employer Match
If your employer offers a 401(k) match, this is the moment to make sure you’re contributing enough to receive the full amount. Getting your match is one of the simplest ways to maximize your retirement savings without putting in more of your own money.
Try to take advantage of the December 31st deadline for 401(k) contributions. If not, talk with your employer or HR about how you can plan ahead and utilize available matches the following year.
9. Map Out Your Retirement Savings Plan
Once you’ve reviewed your accounts and goals, take a few minutes to outline your retirement resolutions for next year. Consider questions like:
- "How much do I want to save each month?"
- "Do I want to increase my 401(k) contribution percentage?"
- "Should I add or adjust IRA contributions?"
- "Are there rollovers I want to complete?"
You don’t need a perfect roadmap, just a plan that feels achievable.
10. Celebrate Your Progress
Year-end retirement planning doesn’t have to feel heavy or stressful. Every step you take, no matter how small, moves you closer to the retirement you want. Reviewing, adjusting, and organizing your retirement accounts before the new year is something your future self will genuinely appreciate.
Start the Year with a Roll Over
At PensionBee, you can receive a 1% match whenever you roll over or make contributions to a PensionBee IRA (terms and conditions apply). Many rollovers happen automatically, but if yours needs extra attention, our personal rollover managers, called BeeKeepers, are here to help every step of the way. With diversified portfolios with ETFs like SPY and MDY from State Street Investment Management, one of the world’s largest asset managers.
Frequently Asked Questions (FAQs)
1. What is the deadline for contributing to a 401(k) or IRA?
- 401(k) contributions typically must be made by December 31st of the current year.
- IRA contributions (Traditional, Roth, or SEP) can usually be made until the tax filing deadline in April of the following year.
2. Can I contribute more if I’m 50 or older?
Yes! If you’re 50 or older, you may be eligible for catch-up contributions, allowing you to contribute extra to your 401(k) and IRA. This helps close savings gaps and boost your retirement cushion.
3. Why should I consolidate old retirement accounts?
Rolling over old 401(k)s or IRAs into one account can help simplify tracking, potentially reduce fees, and ensure your investment strategy stays consistent. It makes retirement planning easier and gives you a clear snapshot of your progress.
4. How often should I review my investment mix?
It’s a good idea to check your investment mix at least once a quarter to make sure your mix aligns with your risk tolerance, retirement timeline, and overall financial goals.
5. What is an employer match, and why is it important?
An employer match is extra money your employer contributes to your 401(k) based on your contributions. It’s essentially free money that boosts your retirement savings, so aim to contribute enough to get the full match.
6. What is a target-date fund, and how does it work?
A target-date fund automatically adjusts your investments over time, becoming more conservative as you approach retirement. It’s a hands-off way to stay aligned with your retirement timeline.
