A SEASON OF GENEORSITY AND FINANCIAL GROWTH
As we approach the close of 2025, this season reminds us of two powerful themes: gratitude and growth. From celebrating our community’s impact at the Breakthrough T1D Walk to preparing for the financial opportunities that come with year-end planning, November offers a chance to reflect, give back, and take intentional steps toward your future goals. At Phases, we believe that every season carries an opportunity to realign personally, financially, and within the communities we serve.
FROM GIVING BACK TO LOOKING AHEAD
TOGETHER WE MADE AN IMPACT
We’re still inspired by the incredible show of support from this past weekend’s Breakthrough T1D Walk in San Francisco.
Together, the walk raised $454,954.48 and counting in support of type 1 diabetes research and advocacy. Thanks to our amazing clients, friends, and team members, the Phases Fighters surpassed our $10,000 goal, reaching $11,415 dollars including the full $3,000 Phases match.
We’re proud to share that Phases was recognized among the top 10 donor teams. This milestone wouldn’t have been possible without your generosity and enthusiasm for a cause that means so much to our team.
See More Event Photos on Our website.
MAX OUT RETIREMENT CONTRIBUTIONS
As the year comes to a close, it may be helpful to review your retirement contributions to ensure you are on track with your savings goals. If you participate in an employer-sponsored plan such as a 401k or 403b, reviewing your contribution amount and confirming you are taking full advantage of any available employer match can support long-term savings growth.
For 2025, the contribution limit for 401k plans is 23,000 dollars, with an additional 7,500 dollar catch-up provision for those age 50 or older. For those eligible, IRA or Roth IRA contributions can be made up to 7,000 dollars, or 8,000 dollars if age 50 or older, though income limitations may apply.
If you are self-employed, exploring retirement options such as a SEP IRA or Solo 401k may provide additional opportunities to save. Before making adjustments, it is important to review how contribution changes could affect your broader financial plan and tax situation.
CONSIDER A ROTH CONVERSION BEFORE YEAR-END
A Roth conversion may be worth considering for individuals expecting higher tax rates in the future or who wish to diversify how their retirement income is taxed. This strategy involves transferring assets from a pre-tax retirement account such as a traditional IRA into a Roth IRA, where future withdrawals may be tax-free under certain conditions.
Because each situation is unique, it is best to review whether a conversion aligns with your long-term retirement and estate-planning goals. Your advisor can help you assess the advantages and considerations in coordination with your tax professional.
DON’T FORGET REQUIRED MINIMUM DISTRIBUTIONS (RMDS)
For those age 73 or older, or who have inherited retirement accounts, the end of the year often serves as a reminder to confirm that required minimum distributions have been satisfied. Failing to meet the RMD amount may result in tax penalties, so taking time to verify your distribution schedule can help prevent potential issues.
RMDs generally apply to traditional IRAs, SEP IRAs, SIMPLE IRAs, and most employer-sponsored retirement plans. If you hold multiple accounts, each may carry separate requirements. For individuals who do not need these withdrawals for current expenses, there may be opportunities to reallocate or gift the funds in ways that align with your overall financial goals.
If you have questions about how RMD rules apply to your accounts, your advisor can assist in reviewing your options and coordinating with your tax professional.
GIVE BACK AND CELEBRATE THE SEASON
We’re once again proud to support Toys for Tots this holiday season. If you’d like to participate, feel free to drop off new, unwrapped toys (newborn to 14) at our office during business hours throughout November and December, or ship a gift to our office using the San Jose Toys for Tots Amazon gift list. Together, we can help make the holidays brighter for local families.
If you have questions about drop-off or shipping, reply to this email and our team will assist.
PHASES HAS A NEW LOOK
We’re excited to share that our new website officially launched. The updated site now serves as a central place to stay connected with all things Phases, including our monthly newsletters, market recaps, and community events.
Visit the site to explore resources, see highlights from recent activities, and read our latest articles such as this one on year-end financial strategies.
CONCLUSION
At Phases, we believe a sound financial plan evolves with each season of life. As the year comes to a close, we’re here to help you take proactive steps that align your plan with your goals and values.
KNOW SOMEONE WHO COULD BENEFIT FROM A YEAR-END REVIEW?
We’re always grateful when clients introduce us to friends or family who may benefit from professional guidance. If someone you know is looking to get organized before the new year, we’d be happy to connect. Simply reply to this email with their contact information or forward this newsletter directly.