With the holidays fast approaching, many of us are spending money for gifts, food or travel to see family.  But now may be a good time to review your finances for the upcoming new year.  Vince Stern of Financial Benefits in Perry says those with IRAs have a deadline to invest for 2012.

“For IRAs it is typically April 15th of the following year.  You have until that day to invest for 2012″ says Stern.

And other advice for this type of year…

“A lot of that depends on each individuals situation… but some of that would be to put as much money as they can into their 401ks or to put money away into an IRA if they’re able to deduct that, if not for younger clients the Roth IRA is always a great alternative.”

Playing the stock market is always a challenge, but Stern says many are predicting capital gains will rise in 2013.

“Capital gains are at a lower rate right now and everybody thinks that capital gains will be going up next year.  So if you have some gains that you want to take advantage of at the lower rates, that might be something that you want to think about.”

Since everyone’s financial situation is different, Stern says talking with your financial advisor is always a good idea.

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