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Cross These 4 Items Off Your Year-End Investing Checklist

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Good news: There’s still time to slash your tax burden, boost your retirement savings and get a head start on investing wisely in 2018 — all before Auld Lang Syne plays on New Year’s Eve.

Bad news: You’ll need to take action — and soon.

Use this simple checklist to save money and prepare your finances for 2018.

Max out 401(k) contributions

Perhaps you began the year intending to max out your 401(k). If that hasn’t happened yet, you have until Dec. 31 to fund your account.

The IRS imposes strict contribution limits on tax-advantaged retirement plans. People younger than 50 can save up to $18,000 in a 401(k) in 2017, and the limit will increase to $18,500 in 2018. Those 50 and older can save up to $24,000 this year and next.

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