The end of 2019 is rapidly approaching, and while we don’t know what 2020 is going to have in store for us, there are some things we can do to get ready.

In the midst of holiday celebrations and resolution making, the end of the year is the time to make sure you’re not leaving any money on the table. Take a few moments to review these tax moves, investment plays and retirement planning ideas to maximize your income this year and minimize your taxes. A few minutes of financial planning now will shore up your finances for the future.

Here are my five biggest tips to get you started.

Max Out Retirement Savings

Contribute the maximum to your workplace 401k and IRAs if at all possible. By maxing out retirement savings, you are guaranteeing a secure financial future. Automate the process and automatically deploy money from your paycheck to a 401k, 403b or IRA account and you will not miss the cash. Okay, you’ll miss the money in the beginning, but after a while, you’ll adjust to living on the amount that remains in your checking account.

The results are astounding. The difference between contributing $5,000 and $19,000 per year for 30 years is approximately $1.8 million dollars.

Assume that you’re 30 years old and earn $100,000 per year. If you contribute 19% of your salary, your employer contributes 5%, and your salary increases 2% annually, at age 65 your account will be worth over $3 million dollars. That’s assuming a 7%  average annual rate of return.

Contribute only 5%, you’ll have $1.3 million at retirement.

It’s important to note that these results don’t consider inflation and may vary, based upon investment markets.

So, the pain of cutting back to invest more now will make the last third of your life free of financial worries.

Contribute to a Health Savings Account

If you have a high deductible health insurance plan, you’re eligible to contribute to a tax-deferred health savings account. The beauty of this type of savings is that it allows you to reduce current tax liability, and if you invest the money, it can grow tax deferred to pay for either future medical payments or other expenses.

According to IRS Publication 969, you can claim tax deductions for contributions you — and people other than your employer — make to your HSA. That’s true even if you don’t itemize your deductions.

Of course, you can withdraw the money tax free at any time to pay for health-related expenses. Just don’t withdraw the HSA funds for any reason other than medically related expenses before age 65. If you do, you’ll be subject to a 20% penalty and taxes.

Review and Rebalance Your Investments

After a year like this one, it’s possible that your asset allocation could be out of whack. Thanks to 28% year-to-date gains in the S&P 500, your stock investments could have grown more than your fixed assets. And this is great, as long as the stock market continues to soar.

But, you set an asset allocation in order to diversify your investments and capture the returns of outperforming assets while tempering overall portfolio declines when certain sectors go south. This year, without rebalancing, a 60% stock and 40% bond portfolio on Jan. 1 will now be closer to 76% stock and 24% bonds.

The S&P 500 has a standard deviation of roughly 16% while the Barclays Aggregate Bond Index’s standard deviation is 6.8%. If you avoided rebalancing your asset allocation from 1976 to 2019, your 60% stock and 40% bond investment portfolio would drift to almost 90% stocks with an average 13.1% standard deviation, according to a recent American Association of Individual Investors study. A portfolio rebalanced annually will have a lower standard deviation of 10.7%.

Surprisingly, the returns for the portfolio that was never rebalanced were 10.4%, not much higher than the annually rebalanced returns of 10.1% over the 43-year period.

So, rebalancing can significantly reduce risk, while only marginally impacting returns.

Check Withholding and Pay Estimated Taxes

Financial planning is incomplete without attending to your taxes.

Keeping up with the tax law and paying your taxes on time helps you avoid late payment penalties. With the new tax law, there might be withholding surprises. Maybe you are counting on a refund, as a forced way to save, or believed that you had the correct amount taken from your salary.

There are many online calculators to help you adjust your withholding. Even if you underpay your taxes, if you increase the amount of tax withheld from your paycheck by year-end, you’re unlikely to be charged underpayment penalties.

If you have self-employment income it is your responsibility to pay your estimated taxes. Make it a priority to do a run through of your expected tax liability before year-end and make any underpayment as soon as possible.

Also, calculate whether you will be taking the standard deduction or itemizing. If you don’t have enough deductions to itemize your taxes, you might consider bunching them so that every other year you can benefit from the tax savings of itemizing your taxes.

Do an Insurance Audit

Insurance is important to pay for the “what ifs.” You don’t want to overpay for insurance if you can cover the unforeseen out of pocket. On the other hand, you want to protect your assets from catastrophic losses. First, gather all of your insurance policies.

If you have dependents, make certain that you have term life insurance and disability coverage. Then review your homeowner’s or renter’s insurance. Check your vehicle coverage and if you have an older car, consider eliminating collision and comprehensive coverage. If you have a large net worth, sign up for an umbrella insurance policy.

After you review your existing coverage, limits and deductibles, determine if you have the appropriate amount of coverage. The next step is to attempt to reduce total insurance payments. First, consider increasing out-of-pocket deductibles. This usually reduces your premium. Then shop around for the same amount of coverage at a lower price. After all, insurance is a commodity. As long as your policies are held with a reputable firm, price shopping can save you money.

Barbara A. Friedberg, MBA, MS is a veteran portfolio manager, expert investor, and former university finance instructor. She is editor/author of Personal Finance; An Encyclopedia of Modern Money Management and two additional money books.She is CEO of Robo-Advisor Pros.com, a robo-advisor review and information website. Additionally, Friedberg is the publisher of the well-regarded investment website Barbara Friedberg Personal Finance.com. Follow her on twitter @barbfriedberg and @roboadvisorpros. As of this writing, she does not hold a position in any of the aforementioned securities.