But here’s a thought that might surprise you: Amid all the wrapping paper and warm cocoa, the holidays might just be the perfect time to rethink your retirement plan.

The season of reflection

When the year winds down, most of us naturally reflect — what went well, what could have gone better and what we want to change in the year ahead. For retirees, that reflection can carry a little more weight. You’ve worked hard to get here. You’ve built your nest egg. But now, the goal isn’t just preserving wealth — it’s using it wisely, meaningfully and maybe even generously.

This season of gratitude creates the right environment to think about how your money is serving you — and how it might serve others.

Giving that gives back: The power of charitable planning

Many retirees find joy in giving — supporting a church, a local food pantry or a cause close to the heart. But did you know that giving can also be a smart financial move when done correctly?

One often-overlooked strategy is the Qualified Charitable Distribution, or QCD. If you’re 70 1/2 or older, the IRS allows you to give up to $100,000 per year directly from your IRA to a qualified charity.

Why does that matter? Because the amount you give through a QCD doesn’t count as taxable income. That means you can satisfy your Required Minimum Distribution, or RMD, while avoiding an increase in your adjusted gross income — helping you keep more of your Social Security benefits and possibly even reducing Medicare surcharges, or IRMAA.

Think of it this way: it’s one of those rare win-win moments. The charity benefits, and so do you.

The gift of a thoughtful legacy

As families gather around the table, conversations often turn to memories — stories of past holidays, the funny things the kids used to say or what “Grandpa always did” this time of year. But the holidays can also open the door to more meaningful family discussions: your legacy.

That word sometimes sounds heavy, but it doesn’t have to be. Legacy isn’t just about money — it’s about values. It’s about ensuring that the people and causes you care about continue to feel your love and support long after you’re gone.

This is an ideal time to review your beneficiary designations on IRAs, life insurance policies and annuities. Too often, retirees discover that old forms still list a deceased spouse or an ex-partner — or worse, no one at all. Updating those names ensures your assets go exactly where you intend.

And if you haven’t yet created or reviewed your estate plan, this quiet, reflective season can be the time to do it. Sitting down with your spouse, adult children, or trusted advisor now can prevent confusion or conflict later.

A year-end checklist worth checking twice

Before the calendar flips to January, there are a few other things to consider that can help you start the new year on solid financial footing:

• Review your income and taxes – Did you take the right amount from your IRA or annuity? Are there opportunities to convert part of your traditional IRA to a Roth IRA while staying in a favorable tax bracket? These decisions can make a big difference over time.

• Assess your spending and savings – Look back at what you spent this year and compare it to your expectations. Are you spending more on travel, health care, or grandkids than you thought? Adjustments now can help preserve your long-term plan.

• Rebalance your investments – After a year of market swings, your portfolio may be off balance. Rebalancing helps keep your risk level aligned with your comfort zone.

• Double-check insurance and long-term care plans – Your needs may have changed. So might your coverage. Reviewing your options annually helps ensure your protection stays in sync with your goals.

• Talk with your advisor before year-end – The best strategies — like QCDs or Roth conversions — often have to be completed before Dec. 31. A short conversation now can prevent a long list of regrets later.

The true spirit of the season

When you strip away the glitter and the gift wrap, the holidays are really about connection. About giving. About gratitude. It’s a time to celebrate what matters most — and to make sure your financial plans reflect those values.

You might not think of reviewing your retirement plan as a “holiday tradition,” but maybe it should be. Because when you look at your finances through the lens of gratitude and generosity, you often discover ways to make your money work harder for you and for others.

And that’s a kind of peace that no store can sell.

A gentle reminder

The best gifts aren’t always under the tree. Sometimes, they’re in the plans we make, the conversations we have and the legacies we leave.

So this holiday season, as you gather with family and give thanks for another year, take a few quiet moments to reflect — not just on what you’ve been given but on what you can give back. Whether that’s time, love, wisdom or a charitable gift from your IRA, it all adds up to something priceless: purpose.

And that, perhaps, is the truest meaning of wealth.

Lyle Boss, The REAL BOSS Financial, endorsed by Glenn Beck as the premier retirement advisor for Utah and the Mountain West States. Boss Financial, 955 Chambers St. Suite 250, Ogden, UT 84403. Telephone: 801-475-9400. https://www.safemoneylyleboss.com/