The Next Dollar Checklist

A cushion of accessible cash for the unplanned, before money is tied up elsewhere.

• ☐How many months of essential expenses do I have in cash I could access quickly?
• ☐Is that cash earning anything, or sitting in an account that pays close to nothing?
• ☐How stable is my income, and how would that change how much cushion feels right?

Many employer retirement plans match a portion of what an employee contributes.

• ☐Does my employer offer a retirement plan match, and what's required to get the full amount?
• ☐Am I currently contributing enough to capture that full match?
• ☐Is there a vesting schedule that affects when that money is really mine?

Debt above roughly 7–8% is a known, ongoing cost working against any return earned elsewhere.

• ☐What interest rate am I actually paying on each balance I carry?
• ☐How does that rate compare with what I'd reasonably expect from investing instead?
• ☐Would paying it down faster free up cash flow I'd value even beyond the math?

For those who qualify, an HSA carries a tax treatment that other accounts don't fully replicate.

• ☐Am I enrolled in a health plan that qualifies me to contribute to an HSA?
• ☐Have I contributed enough to cover expected medical costs — or am I leaving room to invest it longer-term?
• ☐Am I keeping receipts if I'm paying medical costs out of pocket now to reimburse later?

An individual retirement account outside of a workplace plan, with its own yearly limit.

• ☐Have I contributed to an IRA this year?
• ☐Do I understand the difference between Traditional and Roth tax treatment for my situation?
• ☐Does my income affect my eligibility or the deductibility of a contribution?

Contributing beyond the matched amount, up to plan and IRS limits.

• ☐How much of my available contribution limit am I currently using?
• ☐Does my plan offer after-tax or “mega backdoor Roth” contributions beyond the standard limit?
• ☐How does contributing more here compare with other accounts I haven't funded yet?

A regular investment account with no contribution limit and no special tax treatment.

• ☐Have I worked through the accounts above, or is there a reason to prioritize this one first?
• ☐Am I comfortable with the tax treatment of gains and dividends in a taxable account?
• ☐Does the lack of withdrawal restrictions here matter for how I plan to use this money?

Money needed within the next few years generally carries different considerations than long-term savings.

• ☐Do I have a major expense planned in the next 1–3 years?
• ☐Is that money currently invested, or held somewhere more stable given the shorter timeline?
• ☐Would a market downturn at the wrong time change my plans for that goal?