Your 2026 Retirement & Tax Checklist: Smart Moves for Savers, Pre-Retirees & Retirees
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As we step into 2026, one truth remains constant: a strong retirement plan doesn’t happen by accident; it happens by routine review, smart adjustments, and proactive decision-making. With shifting market conditions, evolving tax laws, and ongoing economic uncertainty, now is the ideal time to give your financial life a fresh start.
Whether you’re in your peak earning years, approaching retirement, or already enjoying it, a comprehensive beginning-of-year review can significantly impact your long-term financial health. This 2026 checklist walks you through essential steps to protect your wealth, reduce tax exposure, and ensure you’re on track for a confident, comfortable retirement.
Reassess Your Financial Goals for 2026
Your goals today may not match your goals from even one year ago. Life changes fast, careers shift, families grow, priorities evolve. That’s why your first task for the new year is to revisit (and update) your financial goals.
Ask yourself:
- Do I still plan to retire at the same age?
- Has my income changed significantly?
- Have my savings needs increased?
- Am I planning major expenses (home purchase, education, travel, healthcare, caregiving)?
- Do I need more liquidity than before?
Your retirement plan should evolve alongside your life. A goal reassessment sets the tone for the rest of your financial strategy.
The Most Retirement-Friendly States (Tax-Wise)
Let’s start with the good news: several states continue to offer major tax advantages for retirees. These states either have no income tax at all or exempt most retirement income sources, benefiting your retirement savings.
Review & Rebalance Your Investment Portfolio
Market performance in 2025 wasn’t consistent, and for many investors, portfolio drift is a genuine concern heading into 2026.
Over time, even diversified portfolios can become skewed. For example:
- Stocks may outperform, increasing your exposure to equity risk.
- Bonds may underperform or exhibit shifts in yield behavior.
- Cash reserves may have grown unintentionally due to market hesitation.
Rebalancing brings your portfolio back in line with your target asset allocation, helping you:
- • Reduce unnecessary risk
- • Protect gains
- • Stay aligned with long-term goals
- • Avoid emotional decision-making
For pre-retirees and retirees, this step is crucial. A year of volatility could significantly impact sequence-of-returns risk, making portfolio stability more critical than ever.
Tip: Consider whether 2026 is the year to adopt a more income-focused investment strategy, especially if you’re approaching retirement.
Evaluate Your Retirement Income Strategy
For those nearing or already in retirement, 2026 is an ideal year to reassess your income distribution plan.
Consider reviewing:
- Withdrawal Strategy: Are you using the 4% rule, bucket strategy, guardrails, or a customized plan?
- Guaranteed Income Options: Such as annuities or employer-sponsored in-plan income solutions.
- Tax diversification: Are withdrawals balanced between pre-tax, Roth, and taxable accounts to manage your tax bracket?
- Market-dependent risks: Is your income stable even in years of market decline?
A strong retirement income plan should address longevity, volatility, and inflation.
Increase Contributions, Including 2026 Catch-Up Limits
The IRS regularly updates contribution limits, and 2026 may include adjustments that affect savers at every stage.
Be sure to check the newest limits for:
- 401(k), 403(b), and 457 plans
- IRAs & Roth IRAs
- HSA contributions (if you have a high-deductible health plan)
- Catch-up contributions for people age 50+
Catch-up contributions have grown in importance due to:
- • Longer life expectancies
- • Rising healthcare costs
- • Social Security uncertainty
If you’re over 50, maximizing your catch-up contributions in 2026 can add thousands of dollars to your long-term savings.
Conduct a Tax Review for the New Year
A tax refresh at the beginning of 2026 ensures you’re not leaving money on the table.
Review:
- Your projected 2026 tax bracket
- Opportunities for Roth conversions
- Deductions and credits you might qualify for
- Whether to adjust withholding or estimated payments
- New tax law updates affecting retirees or high earners
For many pre-retirees, Roth conversions in the 50–60 age range can be highly beneficial, especially before Required Minimum Distributions (RMDs) begin.
Review RMD Requirements & Strategies
If you’re age 73 or older, you must take Required Minimum Distributions (RMDs) from pre-tax retirement accounts.
Your start-of-year checklist should include:
- Reviewing your current year RMD amount
- Ensuring proper withdrawals to avoid penalties
- Exploring qualified charitable distributions (QCDs) if charitable giving is a priority
- Weather and recreation: Daily comfort and opportunities for an active lifestyle.
If you’re approaching RMD age, planning now can help minimize future taxes and potential Medicare premium increases.
Update Beneficiary Designations
One of the most overlooked, yet most important, retirement tasks.
Take time to review beneficiaries on:
- 401(k) plans
- IRAs
- Life insurance policies
- Annuities
- Transfer-on-death (TOD) or payable-on-death (POD) accounts
Beneficiary designations override your will, so keeping them updated ensures your assets go exactly where you intend.
Review them particularly if:
- • You got married or divorced
- • You had a child
- • You lost a loved one
- • You want to adjust percentages
Revisit Your Estate Plan
As life evolves, so should your estate planning documents. Use the start of 2026 to update:
- • Wills
- • Living trusts
- • Durable power of attorney
- • Healthcare directives
- • Guardianship designations
- • Trust beneficiaries
- • Titles on major assets
If you haven’t yet established an estate plan, 2026 is the ideal year to begin; even a simple framework can protect your family significantly.
Review Insurance Policies & Long-Term Care Coverage
Healthcare-related costs remain one of the most significant financial risks in retirement.
Ensure you review:
- Life insurance: Is your coverage still adequate?
- Long-term care insurance: Are premiums affordable? Should you explore hybrid life/LTC products?
- Disability coverage (if still working)
- Supplemental coverage for retirees
For retirees, new Medicare changes or supplemental plan adjustments should also be reviewed.
Medicare & Healthcare Planning for 2026
Even if you’re not yet eligible for Medicare, planning is essential.
Tasks to complete:
- • Review current Medicare Advantage or Medigap coverage
- • Evaluate prescription drug plan changes
- • Analyze out-of-pocket costs from the previous year
- • Update preferred doctors or pharmacy lists
- • Explore whether switching plans could save you money
For pre-retirees:
- • Use this year to forecast healthcare needs and budget accordingly
- • Consider how healthcare will be covered if you retire before age 65
Healthcare costs can influence your retirement timeline more than any other factor. Planning early protects your long-term financial stability.
Assess Your Cash Flow & Emergency Savings
Every retirement plan needs liquidity.
Check:
- Do you have 3–6 months of savings if you're still working?
- If retired, do you have 12–24 months of withdrawals set aside in low-risk accounts?
- Are you overspending or underestimating your annual budget?
- Do you have room to boost your emergency fund in 2026?
Protecting liquidity in a high-inflation or unstable market environment is one of the most important steps you can take this year.
Reevaluate Social Security Strategy
Whether you’re claiming soon or years away from eligibility, your Social Security plan affects your retirement income more than many realize.
In 2026, review:
- • Your estimated benefit statement
- • Whether you should delay claiming for a higher monthly benefit
- • Spousal benefit options
- • Survivor benefits
- • The tax impact of benefits
- • How Social Security integrates with your overall income plan
Pre-retirees should also consider how early retirement affects benefit reductions and long-term income stability.
Conduct a Full Risk Assessment
Your financial world has multiple types of risk, investment, inflation, longevity, healthcare, market, and even cognitive decline.
Your 2026 checklist should include:
- Reviewing risk tolerance
- Ensuring your portfolio risk matches your life stage
- Understanding exposure to interest-rate changes
- Revisiting insurance for protection gaps
- Evaluating whether you need more guaranteed income
A risk assessment ensures your retirement plan remains durable in changing economic conditions.
Meet With a Financial Advisor to Review Your 2026 Roadmap
Finally, and most importantly, schedule a comprehensive annual review with a financial advisor. A professional can help:
- Evaluate your entire financial picture
- Optimize tax planning
- Identify income strategies
- Spot risks you may be overlooking
- Adjust investments
- Plan for healthcare and estate needs
- Provide unbiased guidance
A strong retirement plan is a living strategy, one that should be reviewed at least once a year.
Ready to Strengthen Your 2026 Retirement Strategy?
At Goldstone Financial Group, our mission is simple: help you build a confident, worry-free retirement with a personalized plan built around your life. Whether you’re saving, preparing to retire, or already enjoying retirement, our advisors will guide you through every step, including taxes, investments, income planning, and beyond.
Schedule a complimentary, no-obligation consultation today.
Take control of your financial future. 2026 can be your strongest year yet.
Disclosure:
Goldstone Financial Group, LLC (“GFG”) is a registered investment advisor with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or qualification. This material is provided for informational purposes only. Opinions expressed herein are solely those of GFG. None of the information presented in this material is intended to offer personalized investment advice. It does not constitute an offer to sell or solicit any offer to buy a security or any insurance product and is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. The information contained herein has been obtained from sources believed to be reliable but accuracy and completeness cannot be guaranteed by GFG.