Use November to Finalize Year-End Success and Plan for 2026
November is a pivotal month for financial planning — the time to measure progress, make final strategic tax decisions for 2025, and prepare for 2026. Wait until December, and your finances might get lost somewhere between pumpkin pie and ugly holiday sweaters.
Here’s what you do now to stay in control.
1. Review Your Planning Goals
Have you met savings and investment targets? Paid down debt? Improved spending habits? Reviewing your progress helps identify what to accelerate before December 31 and where to focus in 2026.
2. Tax Planning Strategies
November is ideal for evaluating tax opportunities while there’s still time to act.
Does a Roth conversion or switching future 401(k) contributions to Roth make sense?
If converting, what’s your projected 2025 tax bracket, and how much room remains before moving up a bracket?
Are you or a grandparent planning to gift more than $19,000 to a child’s 529 Plan?
Are you self-employed and opening a Solo 401(k)? The plan must be created by December 31, though contributions can be made until your 2026 tax-filing deadline.
Regulatory Update & Gifting: The OBBB Act of 2025 made many TCJA provisions permanent, including lower income tax brackets and the higher standard deduction, so the expected 2026 “rate reset” won’t occur. Some temporary provisions — like higher SALT deduction limits and expanded child/education incentives — phase down later. Consider whether realizing income, Roth conversions, or charitable deductions in 2025 could improve your long-term tax plan.
The annual gift tax exclusion remains $19,000 per recipient for 2026, and the federal lifetime gift and estate tax exemption rises to $15 million per individual starting January 1, 2026. The top estate and gift tax rate stays 40%.
3. Open Enrollment and Workplace Benefits
Open enrollment is your yearly chance to review benefits:
Does your health plan still meet your needs?
Should you fund an HSA or FSA for pre-tax medical savings?
Do supplemental life, disability, or dependent care benefits make sense?
Use Your FSA Before It Expires: FSAs are “use-it-or-lose-it.” For 2025, employers may allow up to $660 to carry over into 2026, or a 2½-month grace period—not both. If you don’t use it, it’s gone — unlike that leftover Halloween candy you somehow keep eating through March.
4. Evaluate Your Investment Portfolio
Review your asset allocation and rebalance if needed. Diversification across asset classes — not just equities — helps manage risk.
If nearing retirement or expecting major expenses, plan how to access funds efficiently. Tailor your strategy by account type (taxable, traditional, Roth, HSA) to balance liquidity, growth, and tax efficiency.
5. Cash Flow & Emergency Savings
Review cash flow and savings. Retirees using a Bucket Strategy should replenish cash to cover short-term income gaps over 2–3 years. Working individuals should maintain 3–4 months of liquidity and access to credit (e.g., HELOC) for unexpected expenses.
6. Don’t Forget Your RMDs
For 2025, the Required Minimum Distribution (RMD) age remains 73. Inherited IRAs from non-spouses after 2019 require annual RMDs within the 10-year rule. Penalties have been waived through 2025 but take effect January 1, 2026.
Conclusion
November is a month for reflection, gratitude, and preparation. Reviewing finances now can set you up for a stronger 2026 — and help you avoid that awkward moment when you realize you splurged on “holiday gifts” for yourself.
If you’re unsure where to start, connect with your Certified Financial Planner® to finish 2025 strong and position yourself for success in the year ahead.
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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
Glenn Brown is a Holliston resident and owner of PlanDynamic, LLC, www.PlanDynamic.com. Glenn is a fee-only Certified Financial Planner™ helping motivated people take control of their planning and investing, so they can balance kids, aging parents and financial independence.
The original article appeared in the October editions of Local Town Pages for Holliston, Natick, Ashland, Franklin, Hopedale, Medway/Mills, Bellingham, and Norfolk/Wrentham. Additionally the Hopkinton Independent and the Community Advocate for Shrewsbury, Westborough, Northborough, Southborough, Grafton, Marlborough, and Hudson.
Please call me at (508) 834-7733 or directly schedule a meeting to learn more about considerations for planning and investing so you can balance kids, aging parents, and your financial independence.
PlanDynamic, LLC is a registered investment advisor. This article is intended to provide general information. It is not intended to offer or deliver investment advice in any way. Information regarding investment services is provided solely to gain a better understanding of the subject or the article. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy will be profitable.
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