Is Your Portfolio Ready for 2026? An End-of-Year Investment Checklist for Retirees

As one year closes and another begins, are you like many Californians asking: Am I positioned for what’s ahead?

With tax rules shifting in 2026, higher living costs, and market uncertainty, it’s worth stepping back to see how your retirement plan holds up against both current realities and upcoming changes.

This article from Bulman Wealth Group offers a year-end checklist designed for California retirees and pre-retirees. By reviewing your portfolio, taxes, healthcare planning, and estate considerations now, you can identify opportunities, address risks, and enter the new year more prepared.

The California-Specific Financial Checklist for 2026

1. Your Portfolio’s Performance and Positioning

Review asset allocation. Think of your portfolio as the engine that powers your retirement. Ask yourself: Does the current mix of stocks, bonds, and cash still match your tolerance for risk? A market environment that felt manageable at 60 may feel different at 70. Aligning your portfolio with your specific stage of retirement helps create the right combination of growth and stability.

Rebalance your portfolio. Over the year, market movements can leave your allocation out of balance. Rebalancing—shifting funds back toward your target mix—helps maintain consistency with your goals. For example, if stocks had a strong year, you may now hold more equity than intended. Rebalancing brings things back in line without overexposing you to risk.

Ask key questions:

• How did my portfolio perform, and what is its present allocation?
• Am I too concentrated in one sector or company?
• Does my mix of investments still fit my retirement income needs?

2. Retirement Tax Planning in California

Review potential 2026 tax changes. The One Big Beautiful Bill Act (OBBBA) made permanent many tax provisions that benefit middle-class families and retirees, such as lower income tax rates, a larger standard deduction, and an added senior deduction beginning in 2025. For Californians, the expanded SALT deduction cap also provides relief in a high-tax state. 

It’s important to know how these changes may interact with your unique retirement planning in California. Perhaps any tax savings can be directed toward healthcare needs, charitable giving, or other financial priorities.

Consider Required Minimum Distributions (RMDs). If you’re 73 or older, RMDs must be taken before December 31 to avoid steep penalties. Even if you don’t need the income, taking the correct distribution keeps you compliant and may determine how much room you have for other tax moves like Roth conversions.

Evaluate tax diversification. Having both tax-deferred accounts (traditional IRA, 401(k)) and tax-free accounts (Roth IRA) creates flexibility when drawing income in retirement. This balance becomes particularly important in California, where pensions and retirement withdrawals are taxed as ordinary income. Planning now helps you adapt if your tax bracket rises in 2026.

3. Planning for Healthcare and Long-Term Care

Re-evaluate Medicare coverage. Every fall, Medicare has an open enrollment window, giving retirees the chance to adjust their plan. Even if you’re satisfied with your current coverage, take a moment to review it. Prescription drug costs, provider networks, or out-of-pocket maximums may change from year to year. Matching your plan with expected healthcare needs helps avoid surprises in 2026.

Review your long-term care planning in California. Few expenses can strain a retirement budget like long-term care. In California, assisted living or nursing home costs can surpass $100,000 annually, and Medicare often doesn’t cover these services. That makes long-term care planning a vital part of retirement preparation.

Medi-Cal provides a safety net, but qualifying requires meeting strict asset limits and navigating a 30-month look-back period on gifts and transfers. For many retirees, this highlights the value of proactive planning through options such as:

• Personal savings set aside specifically for care.
• Long-term care insurance or hybrid life/long-term care policies.
• Trusts designed to comply with California rules.

By taking steps early, you or a loved one may have more choice in the type of care received and how it is funded.

4. Beyond the Portfolio: Comprehensive Retirement Planning

Your Retirement Income Streams

Assess your income sources. Retirement income rarely comes from one place. Review Social Security, pensions, annuities, and withdrawals from retirement accounts. Ask whether these income streams cover expenses, and if not, where might additional income or savings need to come from.

Evaluate your spending plan. Budgets aren’t just useful for working years. In retirement, separating essentials (housing, healthcare, utilities) from discretionary expenses (travel, hobbies, gifts) makes it easier to prioritize your spending. Regularly updating your budget helps keep withdrawals sustainable and avoids drawing down accounts too quickly.

Legacy and Estate Planning

Review beneficiaries. Life events, such as marriages, divorces, or the birth of grandchildren, can all impact who should inherit your accounts or insurance policies. Confirm that beneficiary designations reflect your current wishes.

Update estate documents. Trusts, durable powers of attorney, and medical directives should also be reviewed regularly. These documents not only determine how assets are distributed but also guide decisions if you’re unable to make them yourself.

By revisiting estate and income planning together, you create a framework that connects today’s financial needs with tomorrow’s legacy goals.

Looking Ahead to 2026 With Bulman Wealth

The transition into a new year can be more than a calendar change—it can be a chance to take stock of your progress and look ahead with a fresh perspective. 

This 2026 checklist highlights the many moving parts, from investment positioning and tax planning to healthcare, income, and estate considerations. Each step reinforces the value of reviewing your finances regularly and identifying where adjustments may be needed.

At Bulman Wealth Group, we believe retirees and pre-retirees deserve more than one-off advice. Our team of experienced financial advisors in California works with each client to connect investments, income streams, and tax strategies into a coordinated approach.

With a new tax environment and shifting market conditions ahead, you don’t need to face these decisions alone. Our goal is to help you pursue your version of financial confidence in California.

If you’d like to review retirement tax benefits in California or evaluate how your portfolio measures up against this checklist, we’re ready to assist.

Contact us to start the conversation, and let’s discuss how to position your finances for the years ahead.