10 Financial Planning Tips to Start the New Year
Create a framework for decision making
As your life evolves, so too should your approach to managing your wealth. Setting a clear framework for consistent decision-making – across areas such as investments, spending and gifting – can help you stay aligned with your long-term vision, even though circumstances may have changed.
Organize your accounts and estate planning
Review your estate plan, starting with the names of account owners and beneficiaries. Double-check life insurance policies and retirement accounts to make sure the beneficiaries named reflect your current wishes.
Complete 2026 annual “to-dos”
Fully fund your retirement accounts, such as IRAs and 401(k) accounts, to take advantage of the tax-deferral benefits they provide.
Optimize for lower interest rates
With interest rates already lower than they were a year ago, and additional rate cuts expected in 2026, it’s important to align your portfolio and planning accordingly.
Renew your portfolio’s resilience
We believe 2026 provides a constructive backdrop for markets. We expect solid returns for multi-asset portfolios and are focused on helping clients in key areas.
Prioritize the principles of tax-aware wealth management
It’s important to take a holistic approach to your tax strategy. Thoughtfully considering how your assets are structured, how you invest and withdraw funds and how you integrate planning techniques can help you maximize after-tax returns and keep more of what you earn.
Consider making substantial gifts to family
Gifting wealth to future generations can offer strategic benefits, as the future appreciation on these assets should not be subject to estate tax in your estate.
Develop a charitable giving strategy
Effective philanthropy starts with having sound investment and tax-planning strategies along with a clear vision for the impact you want to make.
Strengthen family ties
Family meetings are an effective way for members to build cohesiveness, share individual and family values and learn from each other.
Protect your identity in an AI-driven world
As artificial intellgence apps and digital tools proliferate, it’s critical to understand the threat they pose to personal data, privacy and identity. Keep in mind: Sensitive or private information can inadvertently be exposed or used to train large language models that support AI.
Rick Barragan is the Managing Director,
Los Angeles Market Manager, for
J.P. Morgan Private Bank.
r.barragan@jpmorgan.com | (310) 860-3658
privatebank.jpmorgan.com/los-angeles
Source: “10 financial planning tips to start the new year” Sarah Backer Lyons, Senior Associate, Wealth Planning and Innovation, Jan. 15, 2026
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