As we enter the fourth quarter, it’s more important than ever to take stock of your personal and financial goals. This has been a year marked by market volatility, shifts in U.S. economic policy, and the introduction of new tax and spending laws. Closing out strong requires proactive planning, and the earlier you start, the more options you’ll have.

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Taking time now to review your balance sheet, priorities, and financial strategies will help ensure you’re positioned to enter 2026 with clarity and confidence. Getting a head start also makes it easier to collaborate with your advisors and family members before the year-end deadlines. Here are 10 key areas to review:

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1. Build or Refresh Your Wealth Plan

A structured wealth plan brings focus and discipline to your financial decision-making. By aligning your goals with your resources, you’ll have a framework for making clear, consistent choices as markets and policies shift.

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2. Revisit Your Cash Position

Liquidity is critical, but so is balance – especially in a declining interest rate environment. Review how much cash you hold relative to your expenses, safety needs, and investment opportunities. Many families aim for one to three years’ worth of operating expenses in liquid reserves. Establishing a portfolio credit line can also provide flexibility without forcing asset sales at inopportune times.

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3. Strengthen Portfolio Resilience

2025 has reminded us of the value of diversification and discipline. Consider:

• Equities: Large and small-cap U.S. stocks, alongside select international opportunities, may provide growth and diversification.
• Fixed Income: Core bonds and municipals can offer stability and attractive yields.
• Alternatives: Private equity, private credit, and venture capital can help diversify risk while providing the potential for higher returns.

The goal: align investments with both your long-term objectives and your tolerance for volatility.

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4. Tackle Year-End To-Dos

Before December 31:

• Max out retirement contributions.
• Take required minimum distributions (RMDs) if applicable.
• Use annual gifting allowances ($19,000 per person, or $38,000 for couples).
• Review trusts, foundations, and tax-advantaged strategies for efficiency.

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5. Improve Tax Efficiency

Smart tax planning can meaningfully enhance after-tax returns. Key tactics include:

• Tax-loss harvesting to offset realized gains.
• Asset location, such as placing investments in the right accounts based on tax sensitivity.
• Strategic withdrawals, adjusting based on income levels and bracket shifts.
• If 2025 is a lower-income year, consider Roth conversions or drawing from tax-deferred accounts.

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6. Accelerate Charitable Giving

With new tax rules set to take effect in 2026, 2025 is a particularly favorable year for philanthropy. Consider donor-advised funds or direct donations of appreciated securities to maximize impact and efficiency. Just be sure to start early so contributions are completed before year-end.

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7. Review Insurance Coverage

Life insurance assumptions may have shifted since your policy was issued. Confirm that coverage levels, beneficiaries, and ownership structures still serve your goals and make adjustments if needed.

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8. Consider Lifetime Gifts

In 2025, the lifetime estate and gift tax exemption remains historically high ($13.99 million per person; $27.98 million for couples). These thresholds will rise again in 2026, but gifting now can lock in benefits and transfer future appreciation out of your estate.

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9. Bring Family Into the Conversation

The holidays are a natural time to talk about money, values, and future plans. Hosting a family meeting can help align expectations, strengthen financial literacy, and prepare the next generation to manage wealth responsibly.

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10. Stay Cybersecure

As AI tools proliferate, protecting your digital identity has never been more important. Best practices include:

• Using unique emails and passwords for new apps.
• Downloading only trusted tools.
• Avoiding oversharing of personal details.
• Staying alert to phishing, deepfakes, and other AI-driven scams.

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Looking Ahead

Thoughtful planning at year-end isn’t just about minimizing taxes or checking boxes, it’s about aligning your resources with your values and long-term vision. At GatePass Capital, we work alongside our clients and their advisors to turn these conversations into action. Contact us to get started!

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Unless otherwise indicated, commentary on this site reflects the personal opinions, viewpoints and analyses of the author and should not be regarded as a description of services provided by GatePass Capital or its affiliates. The opinions expressed here are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual on any security or advisory service. It is only intended to provide education about the financial industry. The views reflected in the commentary are subject to change at any time without notice. While all information presented, including from independent sources, is believed to be accurate, we make no representation or warranty as to accuracy or completeness. We reserve the right to change any part of these materials without notice and assume no obligation to provide updates. Nothing on this site constitutes investment advice, performance data or a recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Investing involves the risk of loss of some or all of an investment. Past performance is no guarantee of future results.

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