In this November 4, 2025 episode of the One of a Kind Financial Show, host Mike Milligan and consumer‑advocate Gary Nolan walk listeners through a practical checklist for year‑end financial planning. They begin by urging a “year‑end snapshot” that reviews total and taxable income, retirement distributions, and earlier tax projections. The conversation introduces “Rothtober,” a mid‑October review of tax projections and the opportunity for Roth conversions before the year’s tax picture solidifies. For retirees, they stress checking required minimum distributions (RMDs) and leveraging qualified charitable distributions (QCDs) to avoid penalties and gain tax benefits. For those still working, they recommend confirming that 401(k) and Roth contribution limits are maxed out. The hosts outline three high‑impact actions for November: (1) tax‑loss harvesting to offset gains, (2) reviewing paycheck or distribution withholdings after life‑event changes, and (3) strategic charitable giving, including gifting appreciated stock or using QCDs. They also advise updating beneficiaries and integrating these steps into a broader “One of a Kind Financial Plan” that covers taxes, retirement income, investments, long‑term care, and legacy. Throughout, Milligan peppers the dialogue with motivational quotes from figures such as Abraham Lincoln, Oprah Winfrey, and Michael Strahan to encourage intentional action. The episode concludes with multiple calls to action (phone numbers, text keywords) and a compliance disclaimer clarifying that Mike Milligan is a CFP and investment advisor representative of Advisory Alpha LLC, and that the content is informational, not personalized tax or legal advice.
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Welcome to the One of a Kind Financial Show Daily with your host, Mike Milligan. It is Tuesday, November 4th. We have turned the calendar into November with, uh, with less than 60 days left, and we are ecstatic about what the year-end has and the possibility for year-end financial planning. Recently on the One of a Kind Financial Show, Gary Nolan and I, uh, spent some time going over Some tips and tricks on what you can do to prepare yourself for the end of the year. This list is not comprehensive because the radio show cannot go on for hours and hours and hours. But we have, uh, we have more details available for you if you, uh, uh, around your specific, uh, situation. We just completed and, uh, are now implementing strategies from Rothtober and One Oak Financial. And if you need some year-end planning advice before the calendar flips from 2025 to 2026, I'd, I'd request that you text the word news into That way we know specifically that you want year-end planning. Enjoy this segment from the One of a Kind Financial Show.
This is the One of a Kind Financial Show. I'm your consumer advocate, Gary Norland. Back with us to help you take charge of your money is Mike Milligan. Mike has helped hundreds of clients achieve their financial success. They've been doing it for quite a while, over 26 years' experience. And Mike is also fiduciary, a very important distinction. When you're looking for a financial advisor. Well, here we go, the start of November. Uh, the air is cooler, the pumpkin spice lineup is in full swing, a lot of families. The holiday countdown has officially begun. But you know what, Mike? November is also a little window of opportunity before the ball drops another year. Now, when you're retired, still working, or whether you're retired or still working or somewhere in between, this is the month to pause, take a breath, and make sure your money, your goals are lined up for December 31st. So, Mike, When you sit down with your clients this time of year, what's the very first thing you do to encourage them?
Well, Gary, you nailed it in that opening right there, because November isn't just about turkeys and football. It's about financial housekeeping. The first thing I tell clients is run your year-end snapshot. Well, that's, that's where, you know, we're going to look at your total income, your taxable income, and how your retirement distributions have lined up against the tax projections that we did earlier in the year. See, in the natural rhythm of our office, Gary, we do, uh, our, you know, our year starts January 1st just like everybody else, ends December 31st. We're no different, although we're, we're special, one-of-a-kind people. It's all the same on the calendar.
Mm-hmm.
But every February we do tax projections with our clients, and those tax projections are what do we expect income to look like for the year, and then what's the tax implications of that. And then in October every year We start doing what we call Rothtober. Rothtober instead of October. And that Rothtober is, were our projections close? And do we have the ability to do Roth conversions? Because you do not need to guess what your October 15th will look like the next year. By November, right? The story for this year has been written. And we don't want to look in April of next year when taxes are due and say, we didn't go over this thing. So if you're retired, We're going to do things like check your required minimum distributions to make sure they're taken, because if they're not, we don't want you to have a penalty. We're going to look at charitable giving options like QCDs, qualified charitable distributions. If you're still working, you know, you need to ask yourself, have I maxed out my 401 plan or my Roth contributions? Those answers will tell you a lot about how you're going to finish the year strong.
So that's important because a little planning beats panic every time. So, Mike, what are some practical things everyone could do in November to actually, you know, move the needle? needle before the year ends? What do you think?
Well, there's, well, there's a bunch, and, uh, but most are just simple things that, uh, turn into powerful ones. So number one, you can harvest gains and losses. I mean, the stock market has had a tremendous run-up this year from the lows of, uh, late March and, uh, April, but there's still some stocks that haven't performed well and some ETFs that maybe have losses in them. So review your investments. Before December 31st. If some did well and others have lost value, you can offset that taxable gain and keep more of what you earned. Number 2, review your withholdings on your paychecks or your income distribution. This one gets overlooked every year, but if you've had a big change like retirement or more income coming in from a side hustle or rental property that like either went up or went down, now's the time to fix those surprises while you can. Number 3 is it's time to give wisely. If you're charitably inclined, gifted— gift appreciated stock or use that QCD from your IRA. That can help a charity and reduce your tax bill. And that's what I call a double blessing.
That's fantastic, Mike. That's great news. This is the One of a Kind Financial Show with Mike Milligan. I'm Gary Nolan, your consumer advocate. 800-748-1838, 800-748-1838, or text the word ideas to 600-700. You deserve a more confident plan to retire. Want to be stress-free, peace of mind? 800-748-1838, or text the word IDEAS to 600-700. No cost, no obligation. Get a better handle on your financial situation. I like that, Mike. It's a double blessing. So let's wrap this up on a high note, Mike. If someone's sitting at home right now thinking, yeah, I probably should get my financial act together before December ends, how do you connect with these year-end ideas? To their bigger financial picture?
Well, this is what we can learn from other walks of life. The secret to finishing the year strong is to be intentional and not rushed. Here, you know, here's some of my thoughts, all inspired by people who've said things worth listening to. So author Ash said, start where you are, use what you have, do what you can. Year-end planning isn't about perfection. It's about progress. You don't need a grand plan at this point. Let's just get started by building your one-of-a-kind financial plan. Abraham Lincoln said, discipline is choosing between what you want now and what you want most. See, when it comes to year-end spending, remember what you want is peace of mind, not another, another box under the tree that is purchased with credit. Oprah Winfrey reminded us, when you know better, you do better. See, November is your chance to do better. Review your plan, update beneficiaries, and make informed adjustments. Robin Roberts on Good Morning America told people, optimism is a muscle. You have to keep exercising it. Financial optimism isn't blind faith, folks. It's taking small, steady steps because you can trust the plan we build together. And then Michael Strahan once said, Don't wake up wishing you had started. Wake up proud you did. Whether it's a Roth conversion or paying off a debt or setting your 2026 savings goals, starting now beats, uh, uh, beats regretting later. That's why we try to help. That's what we try to help people do, Gary. Turn someday goals into right now action.
Perfect way to kick off November, Mike, by taking time and make your plan as intentional as your holidays because When you end the year on purpose, you start the next one with power. Tell us more about the One of a Kind Financial Plan.
Yeah, the one, the One of a Kind Financial Plan is powerful, folks, because, uh, the, uh, the hundreds of people who have called into the show this year, we have been able to really change lives in Hampton Roads and Midland, Texas, and in Honolulu, Hawaii, and Milwaukee, Wisconsin, and Columbus, Ohio, Detroit, Michigan, and in Maine and in Florida, and really around the country, because people The people who have taken the opportunity to sit down and to hear that we are really doing this for you. The financial planning process we do is about you and your life, because at the end of the day, you live a one-of-a-kind life. We just have put some structure around taxes, retirement income, investments, long-term care, and legacy. Because when we, when we do what we talked about this last segment, When we do that, and even we've got some time now, 7 or 8 weeks left in the year. If we do that work now, you are not only finishing this year strong, you are putting yourself on a solid foundation for 2026 to be the best year financially you've ever had. So let's get started. Gary, you want to tell people how they can reach out to us?
800-748-1838. 800-748-1838. Do it right now or text the word ideas to 600-700.
One last message from our compliance team. As a reminder, Mike Milligan, Certified Financial Planner, is an investment advisor representative of Advisory Alpha LLC, an SEC-registered investment advisor. All opinions expressed by me, Mike, or any podcast guest are solely our opinions and do not reflect the opinions of Advisory Alpha. This recording is for informational purposes only, should not be relied on solely for investment, tax, or legal decisions, and it's in no way intended to communicate or guarantee specific performance or suitability of any security instrument or product as we may have discussed. Investment advisory and financial planning services offered through Advisory Alpha LLC, a registered investment advisor. Insurance products are provided by Ideas by Mike, a licensed agency located in Norfolk, Virginia, and licensed to do business in all 50 states. While tax and legal issues may be discussed in the general course of financial and investment planning, Advisory Alpha does not provide tax or legal services. Please consult with your tax or legal professional prior to making decisions related to these issues. If you want us an appointment, With Ideas by Mike or One Oak Financial, please reach out via our website. This podcast is produced in conjunction with Mike Milligan LLC.
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