Autumn isn’t just a time for pumpkin spice and cozy sweaters; it’s also a time for retirement planning. In this week’s Money Wisdom Question Series, Heath Grossman, CFP® shares three key items to check off your retirement planning list this fall.

Checklist Item #1: Maximize Your Retirement Contributions

If you’re still working and saving for retirement, now is a good time to check your contributions. This will help you make the most of your savings. We recommend that you save around 10% to 15% of your paycheck in an employer-sponsored retirement plan, like a 401(k). At the least, aim to contribute enough to get your employer’s full match.

If you’re age 50 or older, you’re eligible for catch-up contributions, which allow you to contribute more than the standard annual limit. And if you’re turning 60, 61, 62, or 63 this year, a special rule lets you contribute a higher catch-up contribution of over $11,000. Before the year ends, take the time to review these limits and adjust your contributions if needed.

Checklist Item #2: Take RMDs Before the Deadline

If you’re age 73 or older, you must start taking required minimum distributions (RMDs) from your traditional retirement accounts. You have until December 31 to complete your RMD for the year, so don’t let the deadline sneak up on you.

If charitable giving is part of your financial plan, consider making a Qualified Charitable Distribution (QCD). This strategy allows you to transfer funds directly from your IRA to a qualified charity, satisfying all or part of your RMD without increasing your taxable income.

Checklist Item #3: Review Your Current Medicare Plan

Fall is also a key time for Medicare planning. The Medicare Open Enrollment Period runs from October 15 to December 7, giving you the opportunity to review your current coverage and make changes if needed. During this period, you can switch Medicare Advantage plans, return to Original Medicare, or make changes to your Part D prescription drug coverage.