A 2013 year-end checklist is provided this week for you to review and see if there is anything you should do between now and year-end regarding your overall planning.  We are here to assist in any way we can to be sure 2013 does not get away from us without at least reviewing any options or items you might need to address before 2014.  Please call us if you feel we need to meet prior to year-end for a personal review.
Collect cost-basis information on sold securities.††
Review sales of appreciated property like real estate & art.††
Forecast income for 2014.††
Review “net investment income tax” liability††
Review realized and unrealized gains and losses.††
Check loss carry-forwards from last year.††
Identify transactions that could improve tax situation.††
Review potential deductions and credits before year-end.
2.  Retirement:
Max out 401(k) contributions including catch-up contributions.
Max out IRA contributions including catch-up contributions.
Open a retirement plan if newly self-employed.
Take required minimum distribution from IRA.
Review overall retirement income strategy.
3.  Investments:
Confirm investment goals and strategy.
Review asset allocation and Risk Profile.
Revisit income and savings needs.
Review Withdrawal Analysis.
4.  Insurance:
Review life insurance policies.
Review costs of current insurance policies.
Review health insurance coverage.
Review Long Term Care Coverage or Need for Long Term Care Protection.
Identify material changes in life, business, or financial circumstances that may require insurance adjustments.
5.  Health:
Review employer’s health insurance options.
Shop your state’s Health Insurance Marketplace.
Review Health Savings Account contributions.
Spend any remaining balances in Flexible Spending Accounts.
Review Medicare enrollment options.
Any changes in health condition that can affect your overall planning?
6.  Milestones:
50: Now you can make catch-up contributions to IRAs and some qualified retirement plans.
55: You can take distributions from 401(k) plans without penalty if retired.
59½: You can take distributions from IRAs without penalty.
62–70: You can apply for Social Security benefits.
65: You can apply for Medicare.
70½: You must begin taking Required Minimum Distributions from IRAs.
7.  Changes:
Did you move?  Make all address changes needed?
Did you sell a major asset like your home, business, or other real estate?
Did you transfer any major financial assets?
Did you refinance your house?
Did you change jobs?
Did you get married?
Did you end a marriage?
Did you add to the family through birth or adoption?
Did you lose a loved one?
Do you have a parent or other family member in need of assisted living?
Is there a severe illness in the family?
Did you receive a gift or inheritance?
8.  Family:
Contribute to education accounts.
Review and fund trusts.
Make any cash gifts to family members.
Plan charitable contributions.
Make any changes to your overall estate plan or are changes needed?


The major stock indices ended last Friday on a strong note in reaction to better-than-expected employment news and made up for most of the decline we had seen earlier in the week.  The unemployment rate fell to 7% and payroll numbers came in stronger than anticipated.  Mortgage rates currently stand at 4.48% for a 30 year fixed rate mortgage, while the 15 year fixed rate is now 3.49%.  (

The Fed meets for a two day session later this month on December 17th and 18th, and we may get a better feel for what their stand will be towards  “QE3” and the “tapering” plans as we finish out the year.  We don’t expect any major policy changes at this time and will keep you posted.

We hope you all were able to stay safe and warm over the past several days from the snow and ice storms that hit a good portion of the central and eastern U.S.  Please don’t hesitate to call at any time if we can be of further service in any way.  We appreciate the privilege to serve each and every one of you.

God Bless,

Your TEAM at F.I.G. Financial Advisory Services, Inc.


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All items discussed in this report are for informational purposes only, are not advice of any kind, and are not intended as a solicitation to buy, hold, or sell any securities. Nothing contained herein constitutes tax, legal, insurance, or investment advice.

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U.S. Treasury bonds and Treasury bills are guaranteed by the U.S. government and, if held to maturity, offer a fixed rate of return and guaranteed principal value. U.S. government bonds are issued and guaranteed as to the timely payment of principal and interest by the federal government. Treasury bills are certificates reflecting short-term (less than one year) obligations of the U.S. government.

Past performance is not a guarantee of future performance. Different investments involve different degrees of risk, and there can be no assurance that the future performance of any investment, security, commodity or investment strategy that is referenced will be profitable or be suitable for your portfolio.

The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation.

Before making any investments or making any type of investment decision, please consult with your financial advisor and determine how a security may fit into your investment portfolio, how a decision may affect your financial position and how it may impact your financial goals.

All opinions are subject to change without notice in response to changing market and/or economic conditions.

1 The Dow Jones Industrials Average is an unmanaged index of 30 major companies which cannot be invested into directly.  Past performance does not guarantee future results.

3 The S&P 500 Index is an unmanaged index of 500 larger companies which cannot be invested into directly.  Past performance does not guarantee future results.