BiggerPockets Money Podcast: Stay on Track to FIRE With These Money Moves Before 2026
Hosts: Mindy Jensen & Scott Trench
Date: November 18, 2025
Episode Overview
This episode targets intermediate to advanced personal finance enthusiasts—especially those on the path to Financial Independence, Retire Early (FIRE)—laying out twenty critical money moves to complete before the end of 2025. Mindy and Scott break down key actions around taxes, investing, insurance, and budget optimization to ensure listeners capitalize on every opportunity and avoid leaving money on the table.
Key Discussion Points & Insights
1. Maximize Tax-Advantaged Accounts (00:48)
- Action: Max out 401k, 403b, 457, and HSA contributions by December 31st, 2025.
- Note: Solo 401k plans may have different deadlines—check with your provider.
- IRAs: Traditional and Roth contributions are possible until Tax Day (April 15 or October if extended).
2. Use Your FSA Funds (01:13)
- Flexible Spending Accounts: Must be spent by year-end unless your employer offers a small extension or rollover—check your policy.
- Eligible Purchases: It’s not just doctor visits—think therapy, dental work, glasses/contacts, sunscreen, first-aid supplies, and more.
- Resource: Visit FSAFeds.gov for the full list.
- Quote:
"Do not let yourself lose even $1 of these FSA money." – Mindy (02:22)
3. Tax-Loss & Tax-Gain Harvesting (02:35)
- Strategies: Offset capital gains or up to $3,000 of ordinary income by selling losing investments; consider gain-harvesting in low-income years.
- Caution: Avoid running afoul of the wash sale rule (cannot repurchase “substantially identical” securities within 61 days).
- Quote:
"If you are in a very low income year... you might be able to sell assets, realize gains, and reset your cost basis tax free." – Scott (02:45)
4. Charitable Giving (03:15)
- Year-End Donations: Support favored causes while reducing taxable income—donate appreciated stock or create a Donor Advised Fund for maximum efficiency.
5. Check Withholding & Estimated Taxes (03:36)
- Goal: Avoid surprise tax bills or refunds; adjust withholdings for accuracy.
- Tips: Review YTD income and withholding; coordinate with HR if needed.
- Quote:
"I personally prefer to owe money on Tax Day because if I'm getting a refund back, I consider that to be an interest free loan to Uncle Sam." – Mindy (04:11)
6. Portfolio Review & Rebalancing (04:34)
- Checkup: End-of-year is ideal to realign portfolio with your investment philosophy.
- Best Practice: Rebalance on a random day near year-end, not precisely January 1st or December 31st for smoother risk management.
- Reference: Frank Vasquez’s earlier episode on risk parity portfolios.
7. Q4 Estimated Tax Payments (05:06)
- For the Self-Employed: Make prompt payments to avoid penalties—especially if you have many income streams or had large asset sales.
- Personal Story: Mindy shares her experience learning about estimated taxes the hard way as a teenager.
8. Budget Cleanup for 2026 (08:01)
- Review: Analyze 2025 spending; ditch unnecessary subscriptions; reassess budgeting for the “Big Three”—housing, food, transportation.
- Advice: If you chronically overspend in categories, raise allocations to reflect reality and avoid frustration.
- Resource: They offer a free 31-Day DIY Financial Planning Challenge (visit biggerpocketsmoney.com/31days).
- Quote:
"Make sure that your budget is accurate for where you're actually spending and also make sure that your spending is in alignment with your values." – Mindy (07:36)
9. Monitor Your Credit Report (08:55)
- Access: Check your reports from all three bureaus at annualcreditreport.com, free and weekly.
- What to Look For: Wrong addresses, fraudulent activity, identity theft.
10. Max Out Insurance Benefits Before Reset (09:40)
- Strategy: Schedule checkups, dental, vision, and any elective medical or therapy before deductibles reset.
11. Revisit Financial Goals (12:24)
- Reflection: Assess your 2025 progress, plan major moves (moves, travel, investments, debt payoff), and set new savings targets.
12. Prepay Deductible Expenses (12:54)
- Tax Optimization: Prepay property taxes, mortgage interest, or outsize medical expenses if you’re itemizing and close to or above the thresholds.
13. Consider Roth Conversions (13:21)
- Strategic Move: If in a low-income or low-tax bracket year, consider converting traditional retirement funds to Roth.
14. Verify Employer Match Timing (13:51)
- Tip: Some 401k matches are annual, others per pay period. Plan contributions to maximize company matching.
15. Make 529 Plan Contributions (14:17)
- Benefits: Many states allow state income tax deductions for contributions before December 31.
- Long-Term: Grows tax free for educational expenses.
16. Verify Beneficiaries & Estate Documents (14:51)
- Quick Check: Make sure all retirement, insurance, and other accounts have up-to-date beneficiaries (these override your will!).
17. Max Out Mega Backdoor Roth Opportunities (15:29)
- Advanced Strategy: If your plan allows after-tax 401k contributions, maximize these and immediately convert to Roth for higher tax-advantaged space.
18. Use Annual Gift Tax Exclusion (15:52)
- Limit: $19,000 per person for 2025, tax-free; useful to help kids, fund 529s, and reduce your estate.
19. Scrub Subscriptions & Auto-Renewals (16:22)
- Action: Cancel unused services before yearly renewals; switch to monthly where prudent to reassess utility.
20. Review & Shop Insurance Policies (18:30)
- Deductibles: Raise deductibles to lower premiums if you have adequate cash reserves.
- Annual Shopping: Always compare rates yearly—home, car, umbrella, business insurance, etc.
- Quote:
"Shop around every single year and now is a great time to do it." – Mindy (19:47)
Notable Quotes & Memorable Moments
- On Optimizing Taxes:
"If I’m getting a refund back, I consider that to be an interest-free loan to Uncle Sam..." – Mindy (04:11)
- On FSA Urgency:
"Do not let yourself lose even $1 of these FSA money." – Mindy (02:22)
- On Teaching Kids Finance:
"I am also looking at using some of the annual gift tax exclusion to match my daughter’s income so they can max out their Roth IRA. Because they are 16 and 18, they don’t really care about retirement... it’s not fun to put away all of your money for retirement. But...I’m going to use the gift tax to give them the same amount that they earned so that they can put money into their Roth IRA and still have spending money." – Mindy (21:25)
- On Annual Insurance Increases:
"You might get a nominal increase the first year, but then the second year it might jump a lot. And you hear these stories about how insurance premiums are going up. You’re like, oh, I guess that’s just what it costs now..." – Mindy (19:47)
Recommended Resources & Tools
- 31-Day Financial Planning Challenge: Free daily emails to professionalize your finances at biggerpocketsmoney.com/31days (08:01, 19:03)
- Resource Library: Free PDF Checklist and more financial planning tools at biggerpocketsmoney.com/resources (19:59)
- Credit Reports: Weekly checks at annualcreditreport.com (08:55)
- FSA Eligible Expenses: FSAFeds.gov (01:45)
Hosts’ Personal Reflections (21:02)
- Scott: Making 529 plan contributions for his two daughters; main priority for the end of 2025.
- Mindy:
- Setting up 529s for her (older) kids still in college.
- Using the gift tax exclusion to match her daughters’ income for Roth IRA contributions.
- Reviewing auto-renewing subscriptions.
Timestamps for Major Segments
- 00:48 — Tax-advantaged account deadlines
- 01:13 — FSA spending tips
- 02:35 — Harvesting tax losses/gains
- 05:06 — Q4 estimated tax payments
- 08:01 — Budget and 31-Day Challenge
- 08:55 — Check credit report
- 09:40 — Use insurance benefits
- 12:24 — Revisit goals for 2026
- 13:21 — Roth conversion strategy
- 14:17 — 529 plan contributions
- 18:30 — Insurance review and shopping
- 19:59 — New resource library announcement
- 21:02 — Hosts' action items
Tone and Style
The episode maintains a motivating, practical, and slightly nerdy yet approachable voice. Mindy offers plenty of encouragement and real-world, hands-on tactics, while Scott emphasizes optimization and the importance of proactive planning. Both blend deep financial acumen with relatability, delivering actionable advice for serious FIRE pursuers.
Summary prepared for listeners who want to take full advantage of year-end planning and get FIRE-ready in 2026. For all the free tools, checklists, and more, visit BiggerPocketsMoney.com.