As we embark on 2026, double checking to ensure you have your financial affairs in order is always a good resolution. The following are some things to consider to help you stay on track:
- Beneficiary Designations – review what you have listed on retirement accounts, life insurance policies, and annuities. Anytime there has been a birth, death, divorce, or marriage, you should review what you had previously listed. Likewise, with many retirement plans having moved to online beneficiary maintenance, you may find that the custodian holding the assets for your employer’s plan may not have anything listed. Take a look and update as needed.
- Educate your Partner – some couples work on their finances jointly, but many do not. If that’s the case in your house, consider bringing your partner up to speed on what you own and where it is. Making a simple spreadsheet or using an online service that tracks your assets can go a long way, but if you use something online, be sure to keep your access secured (and known to both of you).
- Manage your Digital Life – what happens to your social media, email, and other online accounts once you’re gone? If you don’t plan for this, it can create frustration for your family. For those using Apple, Google, or Facebook, consider adding a Legacy Contact. That will allow the person you name to handle your account should something happen to you, but be sure to let them know! Some estate attorneys are now incorporating plans for digital legacy into Trusts, so if you’re set to draft a new document or update an existing one, see if you can add this.
- Stay Cyber Secure – there are so many ways to get hacked (phishing, malware, ransomware, etc.), you should stay as guarded as possible online. Here, the best offense is a secure defense. The days of using simple passwords are long gone. Utilizing complex passwords, passkeys or MFA (multi-factor authentication) are a must. Using a password manager can make this easier and better ensure you keep access secured and the cyber thieves at bay but use one that is well-rated and thoroughly encrypted. Both Apple and Google offer these in addition to many 3rd party services.
Also, when setting up an account online, if you are provided with the option to use a passkey, consider using that. Passkeys are more secure than passwords and utilize mathematical values to authenticate an account. The passkey can be provided to the site via face ID, fingerprint, or PIN. Due to how passkeys work, they replace the need for MFA (code sent to your phone, device, etc.).
- Maximize your Savings – contribution limits were raised in 2026 for IRAs, Roth IRAs, and employer-sponsored plans. As the limits go up, and if you can, set a goal to increase your funding each year. It remains rare that we see anyone oversave for retirement. For anyone in a 401(k) or 403(b) who had $150K or more of gross income in 2026, you must now make any age 50+ catch up contributions to those plans on a Roth deferral (after-tax) basis. Also, don’t confuse Roth deferrals within plans with Roth IRA contributions. If you’re not sure what applies in your situation, we’re here to help.
- Review your Asset Allocation – coming off a 3-year uptrend in the financial markets, be sure to review how you are positioned within your accounts and check if the current allocation remains in line with your risk tolerance. Don’t let FOMO keep you in a position you would not be comfortable with based on your historical objectives. Taking profits is never a bad thing. If you’d like to schedule a review, please let us know.
Thank you and cheers to a great new year!
