The Financial Planning Checklist for 2026
Why Annual Financial Planning Matters More Than Ever
Each year begins with good intentions. Yet research consistently shows that most people abandon financial goals long before the year ends.
The challenge isn’t a lack of motivation. It’s a distraction.
We now live in a world of constant information overload. Every day brings new headlines about markets, politics, technology and tax changes. Over the last five years alone, investors have lived through:
The COVID-19 pandemic and global shutdowns
Inflation and rapid interest-rate rises
Banking sector stress
Geopolitical conflict and trade tensions
Major market corrections and volatility
Layer government budgets, rule changes and media commentary on top of this, and it becomes easy to lose sight of what actually matters.
At Ifamax Wealth Management, we believe good financial planning is not about reacting to every event. It is about having a clear plan that adapts through different life seasons.
A new year should not mean reinventing the wheel. Instead, it’s an opportunity to pause, reflect and realign.
1. Clarify What Matters Most
Many people start financial planning by looking at numbers.
We start with people.
Have your priorities changed?
Does retirement still look the same as it did a few years ago?
How do health, family, lifestyle and work now fit into your plans?
Spending time clarifying what matters most creates focus. In turn, this reduces financial anxiety and prevents short-term decisions that can undermine long-term goals.
This relationship-led approach is something clients consistently highlight in their feedback, feeling listened to, understood and guided rather than sold to.
2. Review Your Cash and Short-Term Reserves
Nearly two-fifths of UK adults have £1,000 or less in savings.
Cash is often misunderstood. It is not there to generate returns. It exists to provide resilience.
Holding an appropriate cash buffer allows you to:
Deal with unexpected expenses
Avoid selling investments at the wrong time
Stay invested through market volatility
A simple annual review helps ensure your cash reserves remain appropriate for your circumstances and are topped up when needed.
3. Check Your Investment Strategy
Investment noise has never been louder.
Stories of extraordinary returns in areas such as AI, technology or individual stocks can be compelling. However, chasing headlines rarely leads to consistent outcomes.
A sensible investment review asks:
Does your portfolio still match your time horizon?
Is the level of risk appropriate for where you are now?
Are your investments genuinely diversified?
At Ifamax, clients regularly tell us they value the calm and considered approach, one that removes emotion from investment decisions and focuses on long-term outcomes.
4. Review Your Tax Efficiency
Tax planning rarely feels urgent, which is precisely why it gets overlooked.
Yet allowances exist to be used:
Capital gains allowances
Dividend and savings allowances
Pension contributions and long-term tax-efficient planning
Small, consistent decisions made each year can compound meaningfully over time. Ignoring them almost always leads to unnecessary tax leakage.
5. Sense-Check Your Retirement Planning
Retirement planning is not just about building a pot.
As retirement approaches, the focus shifts from accumulation to income sustainability.
Key questions include:
Are you still on track?
Has your vision for retirement changed?
Do your plans remain flexible if circumstances shift?
For those already retired, regular reviews help ensure income remains sustainable through different market conditions.
6. Review Estate and Family Planning
Estate planning is easy to postpone, and often costly to ignore.
A review should consider:
Is your will up to date?
Are beneficiary nominations correct?
Do you have lasting powers of attorney in place?
Life changes, relationships evolve, and plans need to reflect reality, not assumptions made years ago.
7. Stress-Test the Plan
Markets do not move in straight lines.
Periods of negative returns are normal. The problem arises when people are unprepared for them.
Stress-testing helps you understand:
What market falls mean for your investments
How income may be affected
Whether adjustments are needed before problems arise
Confidence comes from preparation, not prediction.
8. Build in Accountability
If you were climbing a mountain without a map, progress would be uncertain.
Financial planning works the same way.
Where people manage plans alone, accountability is often the missing link. Regular reviews provide the opportunity to pause, reflect and adjust — especially when emotions or uncertainty creep in.
Clients often tell us that the value of advice lies not in constant change, but in having a trusted guide who helps them stay focused when markets and headlines become distracting.
The Ifamax Way – Planning for Real Life
For over 20 years, Ifamax has been relationship-led, not product-led.
Our approach centres on:
Clarity rather than complexity
Calm rather than noise
Long-term outcomes rather than short-term reactions
Client feedback consistently reflects this: reassurance, clear explanations, and confidence that a plan is in place.
A Simple Checklist. A Powerful Habit.
Confidence comes from knowing, not guessing.
Seeing financial planning as an ongoing journey, reviewed regularly and adjusted when life changes, makes it far easier to navigate uncertainty.
Make 2026 intentional, not reactive.
If you would like a second opinion on your current plans, we offer a no-pressure, no-cost initial review.
Start with a conversation. A plan that adapts with you is transformational.
Important note
This article is distributed for educational purposes only and should not be considered investment advice or an offer of any security for sale. This article contains the opinions of the author but not necessarily the Firm and does not represent a recommendation of any particular security, strategy, or investment product. Reference to specific products is made only to help make educational points and does not constitute any form or recommendation or advice. Information contained herein has been obtained from sources believed to be reliable but is not guaranteed.