When the Seasons Change, So Should Your Financial Plan

As summer fades and the crisp air of fall begins to settle in, many of us naturally think about change. The leaves turn, routines shift, and the year’s end suddenly feels closer than ever. Just as fall is a season of preparation—harvesting, storing, and getting ready for the winter ahead—it’s also an ideal time to pause and review your financial life.

The last few months of the year can be some of the most important for financial planning. With the right strategy, you can take advantage of tax-saving opportunities, ensure your portfolio is aligned with your goals, and make smart adjustments before the calendar turns to January. Here are some key areas to consider as you prepare for year-end.

1. Review Your Financial Plan and Progress

Fall is a natural checkpoint for your overall financial goals. By now, you’ve had three full quarters of income, expenses, and market activity to evaluate. Ask yourself:

Am I on track with my savings goals for the year?
Has my spending matched my budget, or do I need to make adjustments?

Have there been any major life changes—marriage, retirement, the birth of a grandchild, selling a business—that should be reflected in my plan?

If you’re nearing retirement, this review becomes even more critical. Market volatility, interest rates, and inflation can all affect the sustainability of your income strategy. Taking the time in the fall to stress-test your plan ensures you can move into the new year with confidence.

2. Evaluate Your Investment Portfolio

Market conditions can shift quickly, and 2025 has been no exception. Fall is the perfect time to rebalance your portfolio if your asset allocation has drifted from your intended mix.

For example, if equities have significantly outperformed bonds, you may now be taking on more risk than you intended. Rebalancing helps maintain discipline and prevents emotional decisions during market swings.

It’s also wise to consider tax-loss harvesting opportunities. If you hold investments that have declined in value, you may be able to sell them to offset gains elsewhere. These strategies require careful timing and should be coordinated with your tax advisor, but they can meaningfully reduce your tax bill.

3. Get Ahead of Tax Planning

While many people don’t think about taxes until April, the most effective tax planning happens before year-end. Fall is the right time to consider:

Required Minimum Distributions (RMDs): If you’re 73 or older, you must take your annual RMD from retirement accounts by December 31. Waiting until the last minute can be stressful—and in some cases, costly.

Charitable Giving: Donor-advised funds, qualified charitable distributions (QCDs), and appreciated stock gifts can all provide meaningful tax benefits while supporting causes you care about.

Retirement Contributions: Are you maximizing your IRA or 401(k) contributions? You still have time to increase deferrals before year-end.

Capital Gains Planning: Review your realized and unrealized gains and losses for the year. Thoughtful selling decisions now may save you from an unnecessary tax hit.

Taking a proactive approach this fall can help you keep more of what you’ve earned.

4. Review Estate and Legacy Planning

Fall is also a time of reflection—a season when families gather for holidays and conversations about the future naturally arise. It’s a good opportunity to revisit your estate plan:

Do your wills, trusts, and beneficiary designations still reflect your wishes?

Have you updated powers of attorney and healthcare directives?

Does your estate plan minimize unnecessary taxes and complications for your heirs?

Even small adjustments now can make a significant difference for your family’s financial security later.

5. Prepare for the Year Ahead

Finally, fall is the right time to look forward. The close of the year often comes with competing priorities, from holiday travel to family events. Taking action now helps ensure you enter the new year on solid financial footing.

Ask yourself:

What financial goals should I set for 2026?

Do I anticipate large expenses—travel, home renovations, healthcare—that need to be budgeted?

Am I positioned to take advantage of potential market or tax law changes next year?

Working with a trusted advisor now allows time for thoughtful planning, rather than rushed decisions in December.

A Season of Financial Renewal

Just as fall reminds us that seasons change, your financial plan requires periodic attention and adjustment. By reviewing your financial plan, investment strategy, taxes, and estate documents this season, you can align your resources with what matters most to you and your family.

The months ahead are busy, but taking time now ensures that you head into the new year with clarity, confidence, and peace of mind.