Strategic Year-End Financial Review: 10 Moves to Align Your Wealth with Your Purpose in 2026

It’s hard to believe we’re already approaching the end of another year. Between holiday gatherings, travel plans, and gift lists, financial planning might not be top of mind, but it should be. 

For those who’ve outgrown basic financial advice, this season offers a unique opportunity to ensure your wealth is aligned with your goals before the calendar turns.  

Whether you’re protecting a legacy, optimizing for tax efficiency, or planning for generational wealth, here are 10 strategic moves to consider before year-end. 

Evaluate Your Tax Withholding

When it comes to taxes this far into the year, you want to make sure you are paying enough to avoid federal or state income tax underpayment penalties. The IRS has a Tax Withholding Estimator tool that can help you check if you are on track or not.    

Because figuring out your state tax withholding will vary from state to state, this is also a good time to connect with your wealth manager or tax advisor, if you have one, to build a tax projection and make any necessary adjustments.    

If it turns out that you are not paying enough in taxes, you still have options to make up for the difference and avoid underpayment penalties:  

• Increase payroll withholding 

• Make a Q4 estimated tax payment by January 15, 2026 

This is also a good time to assess your modified adjusted gross income (MAGI), which impacts eligibility for Roth conversions and clean vehicle credits. 

Review Your Investment Portfolio

Markets have moved this year. Has your portfolio kept pace with your goals? Review your asset allocation to ensure it still reflects your risk tolerance. If equities have surged, you may need to rebalance. This is also a prime time to harvest tax losses to offset gains. 

This is also the time to confirm that you are maximizing contributions to your retirement accounts by increasing funding through your employer's 401(k) or Traditional and Roth IRAs, and checking in to make sure your beneficiaries are correct.   

2026 limits: 

• 401(k): $24,500 (+$8,000 catch-up for 50+) 

• IRA: $7,500 (+$1,100 catch-up) 

Consider Roth Conversions

By now, you should have a pretty good idea of your expected taxable income for the year. If your income is in a lower tax bracket this year, a Roth conversion could be a powerful move. Converting pre-tax dollars to Roth allows for: 

• Tax-free growth 

• Greater flexibility in retirement 

• Strategic estate planning 

This is especially relevant for clients with large IRAs or those expecting higher future income. Your wealth manager can help you model the long-term impact. 

Maximize Health Savings Account (HSA) Contributions

If you’re enrolled in a high-deductible health plan, HSAs offer triple tax benefits: 

• Contributions are tax-deductible 

• Growth is tax-deferred 

• Withdrawals for qualified expenses are tax-free 

2026 limits: 

• Individual: $4,300 

• Family: $8,550 

• Catch-up (55+): $1,000 

HSA funds roll over year to year and can be invested for long-term growth. For high-net-worth individuals, this is a stealth way to build a tax-free medical reserve. 

Use Your Flexible Spending Account (FSA) Wisely

FSAs are “use it or lose it” accounts. Check your balance and spend down eligible funds before year-end or your plan’s grace period. 

2026 limits: 

• $3,400 per employer 

• Up to $680 rollover (if allowed by your employer) 

Don’t leave money on the table—schedule appointments or stock up on eligible items. 

Fund College Savings Plans

529 plans remain one of the most efficient ways to save for education. Contributions grow tax-deferred and are tax-free when used for qualified expenses. 

2026 gift tax exclusion: 

• $19,000 per individual 

• $38,000 per couple 

Consider front-loading contributions or using a 5-year election strategy for larger gifts. For grandparents and legacy-minded clients, this is a powerful tool. 

Review Your Workplace Benefits

Open enrollment is your chance to optimize benefits for 2026. Evaluate: 

• Health insurance plans 

• Life and disability coverage 

• Education assistance programs 

• Deferred compensation or equity plans 

With hectic work and life schedules, it's easy to dismiss those annoying enrollment reminders from your employer, but don't miss out! Many employers won't allow changes to your benefits after the deadline unless you have a qualifying life event like a marriage, divorce, or the birth of a new baby.    

Missing a chance to evaluate if your coverage and medical plan will be a good fit for next year's needs could cost you a lot. Your wealth manager can help you assess which options best support your goals. 

Strategize Your Year-End Bonus

A bonus is more than a windfall—it’s a lever for wealth alignment. Consider: 

• Funding retirement accounts 

• Boosting your emergency fund 

• Gifting to family or charity 

• Paying down high-interest debt 

• Investing in your portfolio or future goals 

Without a plan, bonuses often get absorbed into regular spending. With intention, they can accelerate your financial trajectory. 

Update Your Financial Independence Analysis

This is the time to ask: Am I still on track? 

At Plancorp, we use scenario modeling to assess your progress toward financial independence. We’ll help you: 

• Identify gaps 

• Adjust strategies 

• Reaffirm your goals 

This analysis is the cornerstone of Absolute Wealth Alignment—where your wealth supports your life’s purpose without constraint. 

Act on Electric Vehicle Incentives

If you’re considering an EV, act soon. The Clean Vehicle Tax Credit of up to $7,500 is still available in 2025 for: 

• Individuals with MAGI < $150,000 
• Couples filing jointly with MAGI < $300,000 

Political uncertainty may impact future availability, so timing matters. 

Next Steps: Go Beyond the Basics 

Not every item on this list will apply to you—but every one is a lever toward greater clarity, confidence, and control. 

If you’ve outgrown basic financial advice, Plancorp offers a process perfected over 40 years to help you achieve Absolute Wealth Alignment. Our team of elite advisors will proactively guide you through every aspect of your financial life. 

Start with our 2-minute financial analysis to see how you’re doing in key areas like retirement readiness and tax efficiency. Or better yet, schedule a 30-minute call with a Plancorp wealth advisor to explore what’s possible.