Year-End Financial Moves to Consider Before 2027

With fewer than 100 days left in 2026, this is a valuable time to review your financial plan before the calendar turns. Holiday commitments, travel, and seasonal responsibilities can make the final stretch of the year feel busy, but they also create an opportunity to make intentional decisions about your finances.

Meaningful progress does not necessarily require a major overhaul. A few well-timed adjustments before December 31 may help you stay organized, reinforce long-term priorities, and enter 2027 with greater clarity. From retirement solutions and cash savings to estate planning considerations, a year-end review can help ensure your financial strategy continues to support what matters most to you.

Review Your Retirement Contributions

Retirement savings are an important area to revisit before year-end. Because contribution limits begin again with each new calendar year, the remaining months of 2026 offer time to determine whether you are on track to make the most of your available retirement plan contributions.

For 2026, individuals may contribute up to $24,500 to a 401(k). Many adults age 50 and older may also be eligible to make catch-up contributions. IRA limits have increased as well, allowing contributions of up to $7,500 for individuals under 50 and $8,600 for those eligible for catch-up contributions.

Even a modest increase can make a difference over time. If you receive a bonus, commission, or other additional income before year-end, consider whether allocating part of it to retirement savings fits your financial planning goals. Depending on the account type, increased contributions may also offer potential tax benefits.

Assess Retirement Accounts From Prior Employers

Changing jobs can leave retirement assets distributed among several former employer plans. As time passes, old 401(k) accounts can be easy to overlook, and it may become harder to confirm whether those investments still reflect your current objectives.

The end of the year is a practical time to take inventory of these accounts and consider whether consolidation could be appropriate. Bringing retirement assets together may make account administration simpler and provide a clearer view of your investments and overall retirement progress.

That said, rollover choices deserve careful consideration. Account types can differ in their investment selections, tax treatment, fees, and distribution rules. Thompson & Thurman can help you evaluate how a potential rollover may fit into your broader wealth management and retirement strategy.

Reconsider Your Cash Savings Approach

Many people are taking another look at where they hold short-term savings. With interest rates still higher than they were in recent years, reviewing your cash-management approach may reveal ways to help those funds better serve your near-term needs.

Depending on your priorities, options may include high-yield savings accounts, money market accounts, certificates of deposit, Treasury bills, and other cash-management tools. These options may support an emergency reserve, a planned purchase, or another short-term objective while keeping funds accessible when needed.

As you compare choices, look beyond the stated rate. Liquidity, account fees, balance minimums, and withdrawal restrictions all matter. The most suitable option should reflect both your financial needs and your personal comfort with access to those funds.

Give Your Budget a Year-End Checkup

The final months of the year often come with added expenses. Gifts, travel, entertainment, and seasonal events can put pressure on household cash flow when they are not anticipated.

A year-end budget review gives you a chance to identify spending patterns and make adjustments where needed. Rather than thinking of a budget as a limitation, consider it a guide for directing money toward the priorities that matter most to you and your family.

Reviewing expenses may also uncover funds that could be redirected toward savings, debt reduction, or future investments. Small, consistent changes can produce meaningful results over time and strengthen a client-centered financial strategy.

Set a Plan for Holiday Expenses

Holiday spending deserves focused attention because its effects can last long after the celebrations are over. Without a clear plan, it is easy to lean too heavily on credit cards or spend beyond what you originally intended.

Creating a spending plan before expenses begin to build can help reduce that pressure. Some households choose firm spending limits, simplify gift exchanges, emphasize shared experiences, or spread purchases over several weeks rather than making them all at once.

The purpose is not to take away from holiday enjoyment. It is to make sure your celebrations remain consistent with your overall financial priorities and do not create avoidable stress later.

Consider Family Gifting Strategies

For families who want to support loved ones while considering estate planning goals, year-end can be an appropriate time to review gifting opportunities.

In 2026, the annual gift tax exclusion is $19,000 per recipient. This may provide an opportunity to assist children, grandchildren, or other family members while also considering broader wealth-transfer objectives.

Every family’s situation is unique, so gifting decisions should be considered within the context of an overall financial and estate plan. A careful review can help determine whether a gifting approach aligns with your longer-term goals, including possible college funding or charitable planning priorities.

Confirm Your Beneficiary Designations

Beneficiary designations are among the most frequently missed details in a financial plan. Retirement accounts, life insurance policies, and certain financial accounts commonly transfer directly to the people named on those documents, even when a will or trust states something different.

Marriage, divorce, births, deaths, and remarriage can all make an existing designation outdated. Reviewing these selections before year-end can help confirm that they still reflect your wishes and may reduce complications for loved ones in the future.

This review is especially important when estate planning documents or family circumstances have changed. Keeping beneficiary elections coordinated with your larger plan can help protect the intentions behind the decisions you have made.

Schedule a Year-End Financial Review

One of the most valuable steps you can take is setting aside time to assess your current position and the direction you want to take next. A year-end review creates space to measure progress, raise questions, identify opportunities, and confirm that your plan remains aligned with your goals.

As 2027 approaches, Thompson & Thurman encourages you to take a proactive look at your finances. Our financial advisors in Amarillo, Texas, provide personalized guidance for retirement planning, wealth management, estate planning, and other financial priorities.

If you would like help reviewing your retirement strategy, savings approach, beneficiary designations, or broader financial goals, contact Thompson & Thurman. We are here to help you prepare for the year ahead with a financial plan built around your needs.