Thanksgiving To-Do List

After you've devoured the turkey and settled down on the couch to watch football, you'll still be left with a long, lazy weekend.

Put the time to good use as we enter the final weeks of the year. Instead of rushing out to shop, here are seven suggestions for reorganizing your finances to enter the new year in better shape.

Check your 40l(k) statement. If you haven't contributed the maximum to get the free money from the company-matching contribution, ask your human resources department to take a larger deduction out of your next paycheck. And while you're at it, increase your contribution rate for next year. For 2006, you can contribute up to $15,000 to a 40l(k) or 403(b) plan. And if you're over 50, you can make additional "catch-up" contributions of $5,000.

And if you're self-employed, set up a Keogh plan. As with an IRA, you can still make contributions until April 15 -- but you must establish a Keogh plan by Dec. 31.

It's also the perfect time to take another look at the investment allocations within your retirement plan. You can get a free one-year trial for the FinancialEngines.com advisory service by clicking on the icon at my Web site. They'll give personalized advice on which funds you should use to meet your retirement goals.

Start tax planning. Take a look at the investments you hold outside your retirement plans. You're likely to get big tax distributions from mutual funds this year -- both short- and long-term gains -- since the market is up sharply from its October 2002 lows. Don't be surprised by these distributions; instead, plan to sell some of those stock losers you've been holding. The losses you claim on your tax form can offset the funds' capital gains.

The dreaded Alternative Minimum Tax still exists -- making it dangerous to give blanket advice on "bunching" tax deductions in one year. So check with your accountant before he or she gets busy with holiday events. Maybe you'll be able to convince your boss to delay your year-end bonus until 2006, or maybe you should pay your state income tax estimate before year's end. It all depends on your tax situation.