Jill On Money With Jill Schlesinger

December is upon us, which means I basically have your attention for about two more weeks max. So while I have you, and as the year comes to an end, it's a perfect time to review some year-end financial planning tips. For such an occasion there's no better person than Michael Goodman from Wealthstream Advisors. And in the interest of full disclosure, not only is Michael a dear friend of mine, he's also my advisor. We discussed a variety of financial planning topics to ponder before you shut down for the holidays, including: Selling assets in your portfolio now versus waiting until next year: Losses offset gains that you have taken previously in the year; if you have more losses than gains, you can deduct up to $3,000 of losses against ordinary income. Take Required Minimum Distributions: Generally, once you turn 70 1/2, you must begin withdrawing a specific amount of money from your retirement assets (there are some exceptions). The penalty for not taking your RMD is steep at 50 percent on the shortfall! Co