Year-end money tips

Vera Gibbons, founder of, offers us some tips on how to end the year in good financial standing.
2:51 | 12/26/18

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Transcript for Year-end money tips
Lol yeah welcome back still Levy who accept your credit card buying presents but it's not too late in the year and good financial shape. Fear Gibbons financial expert and founder of non political is here with her top gear and money moves. Here are welcome did you weren't paying adding that perhaps carrying useful information. So let's start with 401K plans if you hobble on what she UB US around this time here Max about it he can ideally for the maximum contribution limits are 181500. Dollars. You're getting a nice tax break you're saving on your liability and you're saving for retirement if you can try to Max out before the end. He year from now what if you are not able tax. Even if you just contribute few hundred dollars more about still gonna betting your cause still gonna help you save for retirement good habit to get into. You have to be one more paycheck left at this point so I would go into your payroll department and say like what can we just put a few hundred are Zander a little more than that do whatever you can do is just a good habit to get into and like I said you. You have a little more time to actually get get it done. Well good to think about Susanna roller coaster year for stock to your advice for investors is cut your losses. What exactly Damien Weldon beginning theories some great games and I busy very well now a lot of those gains are probably been wiped out so I don't go back and take a look at. You know where those losses are and whether it's good time to actually cut those classes sell some of the loser stocks he can balance out some of the gains. It's a good time in general at the end of the year to take a look at what you have in general to right mix of stocks bonds and cash. And did you dozens or stocks. Might want to dump pump get rid of them OK so one way to get a deduction then your taxes sing it to next year it's you contribute to charities what is your price. Right so you have a little more time to continue to actually make that turned what contribution how to until the end of the year cash Jack's whatever way you actually want to go but. You don't have a grace period so you've got a little more time to actually donate your favorite charity or charities you gonna itemize your deductions gonna take it on your schedule day. Good time to get that done now Tokai and lastly what actually all be doing now. To get ready for the tax man in addition to with a 401K contributions charitable donors to donations what house. I think she just actually take a look at your situation in general obviously at this point you're not gonna have your 1090 nines are not gonna have your W two's you can have those at the end of January. The take a look at your other tax documents to your paperwork together because tax time comes right around the corner. And then people stress out and make mistakes oh I say just get your paperwork in order and take a look at last year's return to figure out how you can get the backs break. For 2018 absolutely good takeaways there parents think you so much you check out not political for more tips you're watching them. We'll who's now.

This transcript has been automatically generated and may not be 100% accurate.

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