By Jack Green, CFP®

Having a financial plan can be a significant help in progressing toward your goals. However, your plan shouldn’t be static. Your plan should grow with you, and the new year can be a good time to reassess. Ready for some new year financial planning? Here are a few tips to help you get started.

Revisiting Your Goals

As your life changes, your priorities do too. Take a look at your current financial goals. Are they still relevant? Have other goals become more important? 

These are some common examples:

• Buying or selling a house
• Having a child
• Paying for college or private school tuition 
• Owning a second home
• Increasing living expenses

Recognizing what’s important (and what’s no longer important) allows us to adapt the plan appropriately to help you realize them. 

Portfolio Rebalancing

Though this is something we perform quarterly (at Thrive), it’s nice to start fresh with a portfolio aligned with your overall financial plan. A disciplined approach allows you to buy low, sell high, and helps you build stable, long-term wealth.

Ask Yourself Some Important Questions

Part of successful new year financial planning often involves taking inventory of your finances and identifying where you may be able to improve. Here are a few questions to help you get started.

Can I save more?

Starting the year, you may have just received a promotion or increase in pay. Now would be a great time to increase savings because you are already not used to having those extra dollars in the bank. Making these small changes over time can have a lasting impact, rather than being forced to make drastic changes down the road. 

Additionally, the start of a new year is a good time to be aware of the new 2026 retirement savings limits. For example, 401(k) deferrals increased from $23,500 (2025) to $24,500 (2026). If you plan to max out your contributions, confirm you are still on track to do so. 

Am I sufficiently covered?

Did you get a significant increase in salary? Did you have a child last year? Did you retire? These are examples of life events where many people want to feel confident in their coverage. 

Now could be a good time to take a look at your life insurance coverage. Ask yourself: Does it match my dependents’ needs if I were not here anymore? 

You might also want to take this opportunity to review your estate plan. Ask yourself: Does my Will still match my intentions? Do these beneficiaries still make sense to have in my estate, 401(k), IRA, etc.?

Need Some Help With New Year Financial Planning?

Starting the year off with a comprehensive life audit to see if you are on track is often a great way to start the new year. This step could help you become more efficient and set yourself up for success. 

If you need any assistance, please do not hesitate to reach out! To schedule a meeting, call (215) 376-5530 or email jack@thrivewealth.com.

About Jack

Jack Green, CFP®, is a Relationship Manager at Thrive Wealth Management, LLC, a boutique financial planning firm in Blue Bell, Pennsylvania. In his role, Jack supports Thrive’s financial planners with in-depth client service, plan building, and ongoing relationship management. Clients appreciate Jack’s responsiveness, honesty, and independence; they know his guidance is rooted in Thrive’s best thinking, not products from banks or insurance companies. He finds it most rewarding when clients feel the stress lift off their shoulders after developing a clear plan, allowing them to focus on life outside of finances. “Money is emotional,” Jack says. “My role is to be a steady buffer during market declines so clients don’t make decisions they’ll regret later.” 

Jack earned his CFP® designation in 2022 and holds a Bachelor of Business Administration in Financial Planning from Temple University’s Fox School of Business. While at Temple, he was an active member of the Financial Planning Association, the Temple University Investment Association, and the Men’s Lacrosse team. Jack currently resides in Philadelphia, PA, and outside of work, he enjoys running, working out, golfing, cooking (especially grilling), traveling, and attending concerts. Most of all, he values spending time with family and friends. To learn more about Jack, connect with him on LinkedIn.

Disclosure:

This material is provided for informational and educational purposes only, should not be viewed as an exhaustive discussion of the topics presented, and should not be construed as individualized advice for any reader’s personal circumstances. For guidance on how these matters may impact your financial plan or investment portfolio, please contact your Thrive Wealth Management, LLC representative. While the information presented is believed to be factual and up to date, Thrive Wealth Management, LLC does not guarantee its accuracy and, due to various factors, including but not limited to changing laws and regulations, this information is subject to change. All expressions of opinion reflect the judgment of the authors as of the date of publication. 

Please visit https://thrivewealth.com/disclosure for additional information regarding the professional designations and credentials discussed. Professional designations and credentials do not guarantee success or any particular investment or financial outcome.

Past performance does not guarantee future results. All investing comes with risk, including risk of loss.