The start of a new year is the perfect time to pause, reflect, and set the stage for your financial success. Whether your 2025 followed the status quo or brought lots of change, it’s important to take inventory of your financial plan and ensure every area is aligned with your current circumstances and your goals for the future.

If you haven’t already scheduled your annual review with us, now is a great time to get on the books. We typically review five or six key areas during these annual meetings, and then we’ll address them in greater depth throughout the year.

To make the most of your annual review, consider the following as we head into the new year:

1. Life Changes

If your circumstances changed in the last year, your financial plan may need an adjustment. Note if there were changes such as…

• Increase in income or expenses
• Marriage
• Divorce
• Birth or adoption
• Major purchase
• Career change

If your life looks different than it did a year ago, we’ll want to ensure your financial plan reflects those changes.

2. Cash Flow & Savings

Cashflow is often overlooked when people think about their financial plans—after all, it’s a lot more fun to discuss investment strategies and pick stocks than it is to ask, “What do I spend my money on, and how much do I need to support my lifestyle?”

But while the word “budget” may not excite you, it’s essential to evaluate where your money is going and whether you’re prioritizing the right things—this holds true for those in retirement and those still accumulating wealth.

A healthy emergency fund is the cornerstone of financial security, so confirm yours is at the right level. Also, be mindful of any changes to retirement contribution limits for 2026. Are you taking advantage of the full allowable contribution?

If your income has grown, it can be tempting to increase spending (hello, lifestyle creep)—but before you trade in your car, ask yourself: Have you adjusted your savings to reflect your increased income? The goal is to prioritize savings and contributions first—then consider the lifestyle upgrades.

3. Investment Strategy

Your asset allocation is an essential part of your overall investment strategy, and while it’s easy to focus on short-term market fluctuations (especially these last few months), it’s critical to maintain a long-term perspective to ensure your investments are supporting your goals.

So whether your goals are short-term needs or long-term retirement plans, ask yourself: Is your risk and asset allocation appropriately aligned with your goals? If you’ve been withdrawing funds or have upcoming expenses that need to be addressed, we might need to rebalance your portfolio.

4. Taxes

Though we dive deeper into tax planning in the second quarter, January is a great time to start thinking about your overall tax picture:

• Are you making all the necessary contributions to your accounts?
• Is there an opportunity for charitable giving this year, and if so, are you doing so in a tax-efficient way?
• Consider whether a Roth conversion is a good option, especially if your income or lifestyle has changed significantly in the past year.

Being proactive about taxes now can help you be more strategic as the year progresses.

5. Insurance & Risk Management

Insurance is one of those things that’s easy to ignore until it’s too late. But as with many other areas of your financial plan, if your life has changed significantly, your insurance coverage might need to be adjusted.

Consider the following:

• Life Insurance: New additions to the family? Consider updating your policy.
• Disability Insurance: Higher income? Greater expenses? Consider updating your policy.
• Property and Casualty: Major purchases? A change in the value of your assets? Consider updating your policy.
• Umbrella: Did you see significant returns in your portfolios? Has your net worth increased? Consider updating your policy.

6. Estate Planning

Estate planning is another area that is easily overlooked, but it’s one that needs to be reviewed regularly.

Start by ensuring your beneficiaries are up to date. If you’ve had any changes in your family dynamic—new children, a marriage, a divorce—it may be time to revisit your will and trust. And don’t forget about healthcare and power of attorney designations; these documents are just as important to your overall estate plan.

If your life has changed in any way, now is the time to ensure your estate plan reflects that.

Review Your Goals

Here’s the thing—the second you leave your review meeting, life will change. Your goals will evolve over time, and that’s okay. Financial planning isn’t a static exercise. It’s not about creating a 40-page plan that sits on your desk gathering dust; it’s about being flexible and adjusting as life unfolds.

So, as you consider these six areas, take a moment to think about your retirement plans or other big goals for 2026—have they evolved? Are all the items above aligned to help you reach those goals? This is one of the most important things to keep in mind as we review your plan together.

Final Thoughts: Setting Your Priorities for 2026

While we’ll touch on all these topics during our annual review, it’s helpful to identify your priorities now so we can address them accordingly. Whether your most pressing need is to update your asset allocation, revisit your tax strategy, or adjust your insurance coverage, establishing your priorities now ensures you make the most of each decision throughout the year.

Again—if you haven’t scheduled your review with us, do so today using this link, and start your year strong.