By Mike Collopy, CFP®, CIMA®

November 2025

The end of the year has a way of sneaking up on us, between work deadlines, holiday travel, and family events, December moves fast.

Before you shift into celebration mode, take a few minutes to get ahead of the financial details that make a big difference later. These are the same areas I see clients stress about most, from taxes and savings to health and fulfillment.

1.      Estimated Taxes: If you have variable income like bonuses, business revenue, or equity compensation, you           may have experience with surprise tax bills as withholding rarely captures the full picture. Run your                         numbers or connect with your CPA to project your 2025 income and estimated tax payments. A little                         effort  now can prevent a painful surprise next spring.
2.      2026 Cash Flow Planning: This one’s important and often overlooked. Cash flow planning drives both                      your savings and your lifestyle. Break it into two buckets:
   • • • Spending: List next year’s big-ticket items like travel, tuition, renovations and estimate timing and amounts. And while you’re there, audit your statements for those “forgotten subscriptions” quietly auto-renewing in the background.
       • Saving: Decide how you’ll prioritize your 401(k), brokerage, 529, or other savings accounts. Having a clear plan minimizes decision fatigue and keeps you on track. If you missed it, check out The Executive’s Guide to the Savings Waterfall, a simple framework that aligns savings with goals, not just income.
3.      Maximize Tax-Deferred Savings: If cash flow allows, top off your 401(k), IRA, and HSA. Some accounts can            be funded into April, but others (like 401(k)s) close at year-end. These are the easy wins, current tax                              deductions, long-term compounding, and fewer dollars exposed to future taxes. While not a focus for                        today’s article, after-tax 401(k) contributions are becoming more common. This can be an excellent way to            save additional dollars beyond traditional limits, so it’s worth checking with your plan provider to see if                it’s available (future article to come on this topic).
4.      Charitable Giving: If you’re charitably inclined, now’s the time to act or prepare to complete these gifts                     before year-end. Consider using a Donor-Advised Fund or donating appreciated stock instead of cash as                   it’s a smart way to reduce your tax burden while still benefiting the charities you support. There are lots                 of  creative ways to gift so talk to your advisor, CPA or the charity you support to learn more.
5.      Tax-Loss Harvesting: Markets have been strong this year so finding losses may not be easy but if you have             any, this common strategy can improve your 2025 tax bill. Harvesting losses before year-end can offset                   gains and trim your tax bill. Just remember the golden rule: don’t let the tax tail wag the dog. But if it                         makes sense and aligns with your strategy, harvest away.
6.      Health and Relationships: In my article Rethinking Wealth: A Framework for Fulfillment, I wrote that                   true wealth extends beyond the balance sheet, it’s about health, wealth, and community. This is the                           season  to check in on your physical health and reconnect with people who matter. Money is not the end                 goal, it’s the resource that gives you freedom and the ability to live life on your terms. Health and                                 community are the hardest goals to quantify but the most powerful to pursue.
7.      Complacency Check: Did you take an adventure this year? Make memories with family? Cross something              off the list you’ve been talking about for years? It’s easy to get caught in the rhythm of work, meetings,                    and  obligations. But life doesn’t wait for perfect timing, and the best returns aren’t always measured in                    percentages. They’re measured in moments. I often fall short in this category but try to remind myself of                its importance…we rarely remember the days we worked late but we always remember the trips we took,                  the laughs we shared, and the people we experienced them with.

Closing Thought

Planning ahead isn’t about perfection, it’s about intention. It’s staying aligned with your goals while leaving room for life to happen. Don’t wait until retirement to get healthy, take that trip, or strengthen the relationships that matter.

The most fulfilled people I’ve met, often clients who’ve already achieved financial success, consistently say the same thing: staying on top of your health, wealth, and community takes effort, but the payoff is lasting peace of mind.

A little planning now can go a long way toward starting 2026 with confidence and clarity.

Written by Mike Collopy

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