With just 45 days left in 2024, now is the time for financial planning for the end of the year and 2025. Kristen Bitterly, Head of Citi Global Wealth at Work, explains that while most Americans have experienced financial stress, just a third have consulted a financial adviser to help them devise a plan.

Bitterly says that investors should take the time now to assess their portfolios, noting that with interest rates coming down, it’s a good time to look at your cash allocations. Additional recommendations include checking for any outsized exposures in your equity portfolio and reviewing your charitable donations and tax burden.

And while stocks are already moving in the wake of the election results and the Republican sweep of the presidency, House, and Senate, she notes that “policy, not politics,” will determine market performance in 2025 and beyond. For investors who are looking at small and mid-cap U.S. stocks in 2025, she says, “One thing that I would highlight, though, is because we have… seen that ten-year spike up a lot in terms of the interest rate. I think when it comes to expanding into small and mid-cap, you still need a quality bias. You want profitable parts.”

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This post was written by Kayla Hawkins.