As we approach the close of 2025, it’s worth taking a moment to check in on your financial health before the new year begins. Taking a few intentional steps now can reduce your tax burden, clarify your goals, and help you head into 2026 with confidence. Here’s a financial checklist to help you end the year strong.
Review How This Year Has Changed Your Financial Picture
Start by looking at the major shifts in your life over the past year. A change in job, income, household, or expenses can reshape your plans without you realizing it. Reviewing your budget, savings habits, and overall spending trends for 2025 can help you set expectations for the year ahead.
Make the Most of Your Retirement and Tax-Advantaged Accounts
Confirm whether your workplace retirement contributions are set to maximize your remaining pay periods. Even a small adjustment can help you reach annual limits before they reset on January 1. If you have an IRA or an HSA, review what you’ve contributed so far and decide whether adding more before year-end or before the 2026 tax deadline makes sense for your goals and tax situation. Working with a professional to review your accounts can help you feel confident that you’re not overlooking any opportunities going into next year.
Take a Fresh Look at Your Investments
A year’s worth of market movement can shift your portfolio more than you think. Rebalancing now can bring your allocations back in line with your long-term strategy. If you hold taxable investments, consider whether tax-loss harvesting or realizing gains would benefit you this year. Both moves can influence your tax bill and help you start 2026 on the right foot.
Get Your Tax Planning in Order
Check your withholdings to avoid surprises when you file next spring. This is also a good time to gather documentation for itemized deductions and wrap up any charitable contributions you want counted for the 2025 tax year. A brief review now can help you get through tax season smoothly. This is best done with professional guidance to ensure it aligns with your overall strategy.
Update Beneficiaries and Key Financial Documents
Life changes quickly, which makes beneficiary designations and estate documents easy to overlook. A quick review ensures your accounts still reflect your wishes and that your overall plan is up to date.
Revisit Your Budget, Cash Flow, and Insurance
Look at how your spending lined up with your budget this year and decide which habits you want to carry into 2026 and which ones to leave behind. Also, take time to confirm that you have enough emergency savings and that your insurance coverage matches your current needs. These small checks can help protect you when life takes unexpected turns.
Use This Financial Checklist Heading Into 2026
A short year-end review can still have a big impact on your finances. With a clearer understanding of where you stand and what matters most going forward, you can start the new year prepared, focused, and in control.
For a deeper dive, download this free resource and contact us to help you start the new year off strong.
