January 2026, can you believe it? This is the perfect time to get organized to improve your financial picture throughout the coming year. There are many things a person might do and, as always, the best moves depend on your circumstances. Nonetheless, many experts agree that the following list might be useful.
Check Signals. Since it’s now football playoff time, I couldn’t resist that title. But seriously, just as the quarterback scans the defense and figures out what play to run, we should look over our situation and figure out the best things we can do in the next twelve months.
Emergency Fund. Yep, there are surprises in life and sometimes they’re pretty expensive. Have you put aside three to six months in savings in case you lose your job, in case someone needs healthcare involving significant copays, in case you need a new car or in case your house needs a major repair?
Debt Reduction. Retiring high-interest debt is a super important financial goal. Once eliminated, you’ll have more money in your pocket.
401(k). I’ve said this before and I’ll keep on saying it, if your employer offers matching funds for its 401(k) program, take them – all of them. It’s free money and it will help you prepare for your retirement. So make sure your contributions cover the full employer match.
IRA. If you can invest money on a tax-deferred basis, this should be your next stop after the 401(k). (Even if your income is too high for the tax advantage, a Roth IRA will create a retirement account where withdrawals will be tax free!)
Insurance. Be sure your policies still cover your needs. Did you have a new child last year and does that mean your life insurance should increase? Have home prices in your area gone up and will your homeowner’s insurance still cover replacement costs?
Healthcare. Think about this specifically during your insurance review as it’s so critical to your financial wellbeing. Is last year’s coverage still satisfactory for 2026? If you’re eligible for an HSA, are you set up to make regular contributions? Do you have a plan to cover assisted-living and other medical expenses as you age?
College. Have kids or other little loved ones? A great way to help these children prepare for their future is to set aside money to help with the expensive cost of college. A 529 is one tax-efficient way to approach this.
Automatic Deposits. You’ll probably have the greatest financial success if you set up automatic deposits to fund your various objectives. If you never see these funds, it will be easier to operate on the income that is available.
Tax Payments. Whether money is withheld from your paycheck or you file quarterly estimates, confirm that the amounts are okay and that you won’t be needlessly loaning the government interest-free money (overpayments) or be on the hook for interest and penalties (underpayments).
Estate. Are your estate documents up to date? Have important people entered or left your life since the last revision? Are your appointed representatives still able to act on your behalf when necessary?
That’s quite a bit to think about, but I’ll bet you can appreciate how important it is. If you’d like a little help planning for the coming year, or help with any other financial matter, we’d be pleased to meet with you in a no-charge, no-obligation initial meeting. Please visit our website or give us a call at 970.419.8212 to set up an in-person or virtual meeting.
This article is for informational purposes only. This website does not provide tax or investment advice, nor is it an offer or solicitation of any kind to buy or sell any investment products. Please consult your tax or investment advisor for specific advice.