Practical planning steps for retirees and those preparing for retirement.

Year-end is the perfect time to review your financial plan. From rebalancing investments to reviewing income strategies, here are answers to the most common retirement planning questions as we approach 2026.

Q1: Should I rebalance my investment portfolio before year-end?

Rebalancing helps ensure your investment mix still aligns with your goals and risk tolerance — a valuable check once or twice each year. Fidelity Investments notes that market moves can easily skew your original allocation, potentially increasing risk or reducing long-term growth.

If you haven’t reviewed your holdings recently, it may be a sensible time to do so, especially before heading into a new calendar year. ¹

Q2: Is this the time to review my income and spending plan for next year?

Yes. Whether you’re already retired or preparing to retire, year-end is a great time to assess:

• Are your income sources still aligned with your spending needs?
• Does your withdrawal strategy remain tax-efficient?
• Do you have flexibility built in for unexpected expenses or market changes?

Taking time now to recalibrate can help reduce surprises and increase confidence heading into 2026.

Q3: What other year-end steps make sense beyond taxes?

Beyond tax moves, here are three useful actions that often get overlooked:

• Review beneficiary designations on retirement and investment accounts. Small updates can make a big difference!
• Confirm emergency fund and liquidity plans — having accessible cash can prevent unnecessary withdrawals.

Revisit your upcoming year’s budget and expenses (travel, gifts, health costs, etc.,) and ensure they align with your overall plan.

These small but practical steps can create a more flexible and confident financial outlook. ²

Q4: How often should I meet with my advisor or revisit my plan?

At the very minimum, review your retirement plan once a year — ideally during the final quarter.

Research from Charles Schwab and Fidelity shows that those who work with a financial professional report nearly double the confidence in their retirement outlook compared to those planning alone.

A year-end review can help keep your strategy on track, adapt for life changes, and set your course for the year ahead. ³

Why These Steps Matter

It’s not about perfect timing or big moves. The same core habits apply whether your savings are modest or substantial:

• Stay consistent.
• Review regularly.
• Keep your goals front and center.

Even small, intentional steps can strengthen your retirement plan and bring lasting peace of mind.

Sources:

1. Fidelity — Rebalancing Your Portfolio
2. Fidelity Viewpoints — Portfolio Checkup
3. Fidelity — Guide to Diversification
4. IRS — Seniors Can Reduce Their Tax Burden via IRA Charitable Gifts
5. MainStay Capital — Year-End Planning with QCDs