Halfway Through 2026: Are Your Financial Goals Still on Track?
As we reach the midpoint of the year, June is a great time to pause and revisit your financial goals. Whether you’re focused on retirement planning, saving for a major purchase, reducing debt, or building long-term wealth, small adjustments now can make a meaningful difference by year-end.
Mid-year is also an ideal opportunity to review your investment strategy and ensure it still aligns with your current goals, risk tolerance, and time horizon. Market fluctuations and life changes can sometimes shift priorities more than we realize.
A few areas worth revisiting include:
- Retirement contributions
- Investment allocations
- Emergency savings
- Beneficiary designations
- Upcoming life or tax changes
Staying consistent and proactive is often more important than reacting to short-term market movements. If your goals or circumstances have changed, this can be a valuable time to reconnect and make sure your financial plan continues to support what matters most to you.
IRS Form 5498: What You Need to Know
You may or may not have received IRS Form 5498 in May or June for a retirement account. This form reports IRA contributions, rollovers, conversions, and the year-end value of retirement accounts to the IRS.
If you receive Form 5498, there is typically no action required. The form is provided for your records and generally does not need to be filed with your tax return. It is often sent after tax season because IRA contributions for the prior year can be made up until the tax filing deadline.
It is a good idea to keep Form 5498 with a copy of your prior year tax return and other important tax documents for future reference.
The second half of the year is a great time to revisit financial priorities and make any necessary adjustments before year-end. If you would like to schedule a portfolio review or discuss your financial goals, please contact anyone on our team to start the conversation.
