The end of the year isn't just a time to celebrate the holidays. It is also a time to clean up last minute details and plan for the future. Here are five really smart year-end financial moves that you can make to help you begin the New Year right.

Review Your Insurance
Review your insurance coverage. If you've had any changes to your family status, make sure they are reflected in your coverage. In addition, it is not a bad idea to check and compare the cost of coverage with different companies. In a competitive marketplace, new products can provide you with greater coverage for less cost.

Contribute to Retirement Plans
If you haven't contributed to your retirement plan, year-end is a good time to do it. The deadline is actually April 15, 2015, but you can get your money working for you sooner if you contribute now.

Evaluate your Investment Plans
Changes in the marketplace this year may have you wondering if you've made the right choice in your mix of investments. Year-end is a good time to evaluate if everything is working the way you want it to. And if you don't have one, it might be time to let a seasoned financial advisor give you a hand with your planning.

Review Your Estate Plan
If you don't have an estate plan, now is the time to make one. Don't let another year go by without securing the future for your family. Be sure to put your powers of attorney – financial, durable and health – in place, as well creating a living will. And while you are at it, check all possible documents that might have a beneficiary listed — 401(k), retirement plans, life insurance plans, etc. Be sure you've designated the correct person as your beneficiary for each plan or program.

Donate
They say the joy is in the giving. This is the time of year to not only open your hearts to family, but to people and organizations in need in your community. There are more hungry people, more orphans, more animals waiting to be adopted, and more sick people than ever in this world. Take a moment to give to worthy cause — you'll feel good about it and get a tax deduction as a bonus.

If you need a list of the non-profit organizations in Arizona to which you might contribute, you can visit the Arizona Gives Day website at http://www.arizonanonprofits.org/content/participating-nonprofits.

I wish you and your family a wonderful and joyful holiday season.

Greg Poulos