2026 Financial Planning Guide - A Path to Financial Independence

Anthony Sandomierski |

If you’d like to review any of these areas in more detail, please contact our office to schedule a meeting.

Financial Independence / Retirement Planning

Are you on track to pursue financial independence?

  • An area we spend a good amount of time on with our clients is quantifying what they may need to accumulate to be financially independent.
    • This is where you are going to work every day because you want to, NOT because you have to financially.
  • We align lifestyle goals and spending habits to determine your personal financial independence number.
  • If you’re unsure where you stand, schedule a review meeting with one of our advisors to create or update your plan.

What kind of life do you want — now and in retirement?

  • Defining your desired lifestyle is just as important as tracking expenses.
  • Financial advice isn’t one-size-fits-all; your plan should reflect your goals and values.
  • We’ll help you craft a plan that fits you, not someone else’s idea of financial success.
    • The worst thing you could do is base your financial decisions on someone else’s goals/objectives

Cash Flow Planning

Pre-Retirement

Are you saving enough in the right “buckets”?

  • Maximize available retirement plan contributions in a tax efficient vehicle and pay down debt strategically.
  • Contact us if you’d like help optimizing your savings strategy.

Do you track your spending?

  • Many people only loosely monitor their expenses.
  • Understanding your spending helps estimate retirement income needs and gets you comfortable with your financial situation
  • Writing down or visually tracking expenses can help identify areas to adjust.

In Retirement

Is your income covering your needs?

  • Review income sources like pensions, Social Security, and retirement accounts.
  • Make sure withdrawals align with your goals and lifestyle.
  • Reach out if you’d like help coordinating income strategies.

Unexpected Events

Do you have a plan for emergencies?

  • Maintain an emergency fund covering 3–6 months of expenses.
  • The right amount is what makes you feel financially comfortable.

Investment Planning

Portfolio Review

  • Are all your accounts (including outside ones) properly diversified?
  • Investments should align with your goals and risk tolerance.
  • For retirees, the focus is on maintaining financial independence and preserving capital.

  • We can review both accounts held with us and elsewhere.

    A diversified portfolio does not assure a profit or protect against loss in a declining market.

Tax Efficiency

  • Are your investments structured to minimize taxes?
  • Smart financial decisions come first, with tax efficiency as an important secondary focus.
  • Contact us to review your portfolio for tax-efficient opportunities.

Risk Management

Family Protection

  • Do you have enough life insurance to protect your loved ones?
  • Especially important for younger families with mortgages or education costs.
  • We generally advise a “buy term, invest the difference” approach.
  • Reach out if you’d like to review your coverage.

Disability & Long-Term Care

  • Would you be financially stable if you couldn’t work for an extended period?
  • Long-term disability insurance is vital before reaching financial independence.
  • Long-term care needs are complex, insurance or dedicated savings may make sense.
  • We can help identify strategies that best fit your situation.

Tax Planning

Income Tax Planning

  • Are you taking advantage of all available deductions and credits?
  • Review retirement contributions, HSA funding, and charitable giving.
  • Our tax and wealth management teams coordinate strategies to help maximize savings.

Tax-Efficient Withdrawals

  • Determine the most efficient sources for retirement income.
  • Important for clients with Required Minimum Distributions (RMDs) or Medicare premium limits.
  • Keeping assets consolidated makes this process much easier.

Roth Conversions

  • Converts pre-tax accounts into after-tax (Roth) accounts for future tax-free growth.
  • Taxes are due at the time of conversion, so cash outside your accounts is needed.
  • Best considered during market pullbacks or low-income years.

  • We regularly monitor for opportunities to make this move.

    Converting from a traditional IRA to a Roth IRA is a taxable event.

    A Roth IRA offers tax free withdrawals on taxable contributions.

    To qualify for the tax-free and penalty-free withdrawal or earnings, a Roth IRA must be in place for at least five tax years, and the distribution must take place after age 59 ½ or due to death, disability, or a first-time home purchase (up to a $10,000 lifetime maximum). Depending on state law, Roth IRA distributions may be subject to state taxes.

Future Tax Rates

  • Most 2017 Tax Cuts and Jobs Act provisions were extended by the One Big Beautiful Bill (OBBBA) in 2025.
    • Top federal income tax rate remains 37% in 2026.
    • Estate and gift tax exemption is expected to rise to about $15 million per person in 2026.
    • State and Local Tax (SALT) deduction cap increased from $10,000 to $40,000 for 2025 (with limitations)
  • Reach out to our office to review how some of these changes may impact your specific tax situation and planning strategies

Estate Planning

Plan Review

  • Is your estate plan current and aligned with your wishes and family situation?
  • Estate planning isn’t just about what happens after you’re gone; it’s about ensuring your wishes are carried out during your lifetime and beyond.
  • Your plan should be based on YOUR unique wishes.

Document Accessibility

  • Do your loved ones know where to find key documents (wills, trusts, powers of attorney)?
  • Upload them securely to our client portal, our service team can help with this.

Legacy Planning

  • What do you want your wealth to achieve?
  • Spend it during your lifetime, leave a legacy, or balance both, your plan should match your goals.

Estate Tax Considerations

  • The One Big Beautiful Bill extended the higher estate tax exemptions beyond 2025.
  • The exemption is expected to rise to about $15million per person in 2026 (indexed for inflation)
  • We continue to monitor any further legislative changes that may affect your estate plan soon, allowing clients to plan-ahead.

Gifting

  • 2026 annual gift exclusion: $19,000 per recipient.
  • Married couples can combine exclusions:
    • $76,000 to a married child and their spouse.
    • $38,000 to grandchildren (combined couple gift).
  • Gifts above these amounts are legal but require an informational gift tax return.
  • Most people owe no tax, as gifts count toward the lifetime estate exemption.

  • Contact us if you plan to gift above the limits, we’ll guide you through the process.

    Cetera Wealth Services, LLC exclusively provides investment products and services through its representatives. Although Cetera does not provide tax or legal advice, or supervise tax, accounting or legal services, Cetera representatives may offer these services through their independent outside business. This information is not intended as tax or legal advice.

How We Can Help

  • Our goal is to help you pursue your financial goals and live the life you envision.
  • To schedule a review meeting:
  • Feel free to share this guide with anyone who may benefit from it!