Start the Year Right: Financial Moves for 2026

The start of a new year is the perfect time to take control of your finances and set yourself up for success in 2026. Small, proactive steps now can make a big difference over the year. Always consult your CPA or financial advisor before making major financial moves.

1. Review 2025 and Set Goals



Reflect on last year’s successes and challenges. Use these insights to set clear goals for 2026—short-term goals like building an emergency fund or paying down debt, and long-term goals such as retirement, college savings, or homeownership.

2. Maximize Tax-Advantaged Accounts

Early contributions give your money more time to grow:

• 401(k)/403(b): Adjust contributions for 2026 limits. Contribute at least enough to receive your employer match.
• IRA/Roth IRA: Make contributions early or set up monthly deposits for steady growth. Dollar-cost averaging helps maximize returns.
• HSA: Fund your Health Savings Account if eligible. Invest appropriately—HSAs offer triple tax-free growth for those with a High-Deductible Health Plan.

3. Budget, Cash Flow & Debt Management

Review your monthly budget. Track income and expenses, prioritize high-interest debt, and consider refinancing if beneficial. Make sure your emergency fund covers 3–6 months of living expenses and prioritize replenishing this account before other savings.

4. Tax Planning & Charitable Giving

Project your 2026 taxable income and consider strategies to reduce taxes, such as Traditional 401(k) or IRA contributions and charitable donations. If you’re 70½+, a Qualified Charitable Distribution (QCD) or Donor-Advised Fund (DAF) can maximize giving while lowering taxable income.

5. Insurance, Estate & Investment Review

Ensure life, health, disability, and property coverage is adequate. Review wills and trusts at least every five years. Beneficiaries should be reviewed annually. Meet with your advisor to review investments.

Starting the year with a clear financial plan can reduce stress, maximize growth, and put you in control of your money. Boyce Wealth Consulting is here to answer questions and help you get on track!