financial confidence California
15 Dec 2025 Financial Planning

2026 To-Do List: 6 Effective Financial Moves To Make

Has your personal financial situation changed over the past year? For most people, finances are rarely static. You may have celebrated milestones, experienced major life events, or shifted your priorities and goals.

At the same time, outside forces such as new tax laws, rising living costs, and unpredictable markets can also shape the way your retirement plan works.

That’s why the start of a new year is an ideal time to revisit your plan. A clear to-do list can help you see where adjustments may be needed and where new opportunities exist.

This article from Bulman Wealth Group outlines six effective financial moves designed to refine your retirement planning, strengthen your preparation, and pursue greater financial confidence in California for 2026.

1. Update Your Financial Plan

A financial plan isn’t meant to sit on the shelf. Each year brings new realities—both in the economy and in your personal life. Yet some pre-retirees and retirees still haven’t created a written plan, relying instead on “gut feel” or reacting to events as they happen. That approach can leave gaps, such as overlooking how to generate a steady income, underestimating taxes, misjudging inflation, or missing opportunities like charitable giving.

Action step: Take time to review your written plan—or put one in place if you haven’t yet. Ask: Does it still fit your lifestyle needs, healthcare expectations, and legacy goals? If not, it may be time for an update. Annual check-ins help keep your retirement planning in California relevant to your actual circumstances.

2. Maximize Retirement Contributions and Roth Strategies

Retirement accounts remain one of the most effective ways to set aside money for the future while reducing taxable income today. If you’re still working, maxing out contributions to a 401(k), 403(b), or 457 plan before year-end may provide current tax benefits while building long-term savings.

If you’re self-employed, consider contributing to a SEP IRA or establishing a Solo 401(k) if eligible. These accounts offer higher contribution limits and flexible funding options tied to business income.

Roth IRAs and backdoor Roth strategies are also attractive, especially while lower tax brackets remain in place under the One Big Beautiful Bill Act (OBBBA). Retirees may want to explore a stair-step Roth conversion—spreading conversions over several years to avoid a single large tax hit while creating a source of tax-free growth and withdrawals.

3. Re-Evaluate Your Risk Tolerance and Asset Allocation

After several strong years in equities, many portfolios are now more stock-heavy than investors may realize. While growth is important, relying too much on one asset class can expose you to sharp swings, and it’s especially risky if you’re already drawing income from your accounts.

Reassessing your risk tolerance each year is essential. Your comfort with market volatility may no longer match how your investments are allocated, or you may be missing opportunities for steadier growth.

Diversification remains a practical tool: balancing stocks with bonds, cash reserves, and alternative investments can help reduce the risk of significant losses while still allowing room for growth.

Some retirees also benefit from creating a “liquidity bucket”—a few years of expenses held in cash or low-volatility assets. This buffer provides spending stability during downturns without forcing you to sell investments at unfavorable times.

4. Do a Healthcare and Insurance Review

Healthcare needs often shift before and after retirement, so insurance choices should be revisited regularly.

If you’re still working, Health Savings Accounts (HSAs) continue to be valuable with triple tax advantages for medical expenses.

For retirees, Medicare Advantage and Supplement plans are updated each year, and open enrollment is the opportunity to switch to coverage that better matches your medical needs.

In California, long-term care is one of the biggest financial pressures. Assisted living, home health aides, and nursing facilities can exceed six figures annually, and Medicare typically doesn’t cover these costs—making long-term care planning in California vital.

Starting January 1, 2026, Medi-Cal reinstates strict asset limits ($130,000 for individuals, $195,000 for couples). Preparing early through savings, long-term care insurance or hybrid policies, and trusts that comply with California rules can help address long-term care challenges.

5. Optimize the Tax Efficiency of Income and Investments

Taxes often rank as a leading ongoing expense for Californians. With the state taxing most retirement income at ordinary income rates, how you structure withdrawals and investments can make a noticeable difference.

  • Review income sources: Consider tax diversification by drawing from a mix of tax-deferred accounts, tax-free accounts, and taxable brokerage accounts.
  • Think about asset placement: For those with taxable accounts, municipal bonds and investments producing qualified dividends may help reduce California’s high tax burden.
  • Use QCDs if eligible: If you’re age 70½ or older, Qualified Charitable Distributions from IRAs allow you to donate directly to a qualified charity. These distributions count toward your RMD and are excluded from taxable income, serving as a philanthropic and tax-efficient strategy—highlighting one of the retirement tax benefits in California worth reviewing.

6. Consider Partnering With an Experienced Advisor

Managing an effective and successful retirement for most people takes more than a “set it and forget it” investment strategy. Taxes, healthcare, income, and estate planning all interact—and decisions in one area can ripple through the others.

A skilled financial advisor in California, like those with Bulman Wealth, can help bring these aspects together, providing a comprehensive and integrated approach instead of a collection of one-off choices.

Working with seasoned professionals means having a resource to highlight pros and cons, track changing tax rules, and adjust strategies as your life evolves. This guidance can save time and reduce stress while helping you feel more organized about your plan.

Bulman Wealth’s Comprehensive Approach to Retirement

Bulman Wealth Group is a growing team of 17 dedicated professionals providing holistic wealth management and retirement planning solutions to individuals and families in California and nationwide.

Our advisors bring decades of experience, and we work closely with retirees, pre-retirees, and their families. Our process—called the Five Points of the Financial Compass—covers investment management, retirement income, healthcare, estate planning, and taxes, bringing them together into one coordinated strategy.

If you’re wondering how the 2026 checklist applies to your own situation, we’re ready to help.

Contact us today or visit our website to explore how to enhance your retirement planning in California. 

Past performance is not indicative of future results. The material above has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed, and Bulman Wealth Group makes no representation or warranty as to the accuracy or completeness of the information, which should not be used as the basis of any investment decision. Information contained on third party websites that Bulman Wealth Group may link to is not reviewed in their entirety for accuracy and Bulman Wealth Group assumes no liability for the information contained on these websites. Opinions expressed in this commentary reflect subjective judgments of the author based on conditions at the time of writing and are subject to change without notice. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission from Bulman Wealth Group. For more information about Bulman Wealth Group, including our Form ADV brochures, please visit https://adviserinfo.sec.gov and search our firm name.

Bulman Wealth Group is an investment advisory firm registered with the Securities and Exchange Commission (“SEC”) under the Investment Advisers Act of 1940. Registration does not imply a certain level of skill or training. More information is available at https://adviserinfo.sec.gov by searching our firm name. Insurance products and services are offered through BWG Insurance Agency, CA State Insurance License #0M46922. Bulman Wealth Group and BWG Insurance Agency are not affiliated with or endorsed by the Social Security Administration or any other government agency.

This has been provided for informational purposes only and is not intended as legal, tax, or investment advice, or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. Opinions expressed in this commentary reflect subjective judgments of the author based on conditions at the time of publication and are subject to change without notice. Past performance is not indicative of future results.