Help clients get a head start on their financial resolutions

November may be one of the most underappreciated months on an advisor’s calendar.

That is why the financial security profession must be prepared — not only to respond to legislative proposals after they arrive but also to help policymakers and consumers understand the practical consequences of inaction.

The year is winding down, but the December rush hasn’t quite begun. Clients are starting to think about the holidays, year-end expenses and, before long, New Year’s resolutions. That makes November an ideal time to get on their calendars.

We often talk to clients in January about what they want to accomplish in the year ahead. Why wait? A year-end financial wellness conversation can help clients make decisions that have deadlines attached to them while also getting them to think more intentionally about what they want from their money in 2027. Here are six items I would put on the agenda.

1. Take another look at retirement contributions

For 2026, the employee contribution limit for most 401(k), 403(b) and governmental 457 plans is $24,500. Those ages 50 or older may generally contribute an additional $8,000, while participants ages 60 through 63 may be eligible for a higher catch-up contribution of $11,250, depending on the plan.

The combined 2026 contribution limit for traditional and Roth IRAs is $7,500, or $8,600 for those 50 and older, subject to applicable rules.

But don’t make this conversation simply about “maxing out.” Ask whether increasing contributions makes sense given the client’s emergency savings, debt, cash flow and other priorities. 

2. Make sure required minimum distributions aren’t forgotten

RMDs generally must be taken by Dec. 31. An individual’s first RMD may be postponed until April 1 of the following year, but doing so generally means taking two distributions and recognizing both as income in that calendar year.

Workplace plans and inherited accounts can bring additional considerations. This is one of those year-end details that can easily get lost during the holidays, and missing an RMD can mean penalties and unnecessary headaches. 

3. Talk about charitable intentions

Charitable giving is another natural year-end conversation. Beginning with tax year 2026, taxpayers who do not itemize may be able to deduct up to $1,000 in qualifying cash contributions, or $2,000 for married couples filing jointly.

Clients ages 70½ or older may also be able to make qualified charitable distributions directly from an eligible IRA to a qualifying charity. A properly completed QCD may count toward an RMD and be excluded from taxable income, subject to applicable rules and limits.

4. Revisit gains and losses

For clients with taxable investments, year-end is an opportunity to review realized gains and losses. Capital losses can offset capital gains. When losses exceed gains, individuals may generally deduct up to $3,000 of remaining net losses against other income, with unused losses potentially carried forward.

But tax strategy should support the investment strategy, not drive it. Selling a sound investment solely to create a tax loss may not serve the client’s long-term interests. Portfolio balance, transaction costs, holding periods and wash-sale rules all belong in the conversation.

5. Don’t overlook the health savings account

For eligible individuals with qualifying high-deductible health plans, 2026 HSA contribution limits are $4,400 for self-only coverage and $8,750 for family coverage, with an additional catch-up contribution available beginning at age 55.

HSAs can be a valuable part of retirement healthcare strategy because of their tax advantages. But clients approaching 65 must be careful. HSA contributions, Medicare enrollment, Social Security timing and employer coverage can interact. These decisions should be coordinated, not made in isolation.

6. Ask the question clients rarely think to ask

Ask your clients: “Do your documents still reflect your life?” Review beneficiaries, wills, trusts where appropriate, powers of attorney, healthcare directives, insurance coverage, account titling and emergency contacts. Marriage, divorce, widowhood, births, deaths, moves and changing family relationships can all make yesterday’s instructions obsolete.

As you schedule year-end client conversations, don’t approach them as simply a checklist of deadlines. Use them to ask bigger questions: What changed this year? What is the client worried about? What do they want to accomplish next year?

By January, everyone will be talking about resolutions. Advisors have an opportunity in November to help clients do something better: Start turning those resolutions into a plan before the new year even begins.

Carroll Golden, CLU, ChFC, LTCP, CASL, FLMI, CLTC, LACP, is executive director of NAIFA’s Limited and Extended Care Planning Center. She is the author of How Not to Tear Your Family Apart: A Practical Guide to Caregiving and Financial Stability. She may be contacted at carroll.golden@innfeedback.com.