With the arrival of a new year, change is inevitable. A new administration brings potential shifts in tax policies, interest rates, and economic strategies that could impact individuals, business owners, and investors alike. In a world where change is the only constant, having a solid financial and estate plan in place can be essential for safeguarding your wealth and positioning yourself for long-term stability.
As you set your goals for the year ahead, here are five key financial priorities we believe you should focus on:
- Reassess Your Financial Plan for the Evolving Landscape
A new year often brings legislative and economic changes that can affect your financial strategy. Whether it’s tax policy updates, shifts in the stock market, or changes in business regulations, staying informed and adjusting your financial plan accordingly can be crucial. A review of your investments, savings, estate plan, and overall strategy can reveal whether you’re positioned for current conditions and future goals.
- Safeguarding Your Wealth with Estate Planning
One of the most overlooked aspects of financial planning is estate planning. Without a proper plan, your wealth and assets could be subject to unnecessary taxes, legal hurdles, or disputes. Confirm your will, trusts, and beneficiary designations are up to date—especially if recent legislative changes impact estate tax laws. Having a plan in place can help safeguard your family and provide confidence your legacy is preserved according to your wishes.
- Strengthen Your Financial Safety Net
Economic uncertainty can arise at any time, making it essential to have a financial cushion. An emergency fund with three to six months of living expenses can provide confidence and financial security in the face of unexpected events, such as market downturns or job transitions.
Additionally, if in or near retirement during a downcycle in the markets, do I have enough set aside to cover my expenses and stay financially secure? Having cash reserves not only helps guard you from panic decisions but also may allow you to seize new investment opportunities and maintain long-term stability.
- Optimize Your Investments for Long-Term Growth
With a changing economic landscape, diversification and strategic investing can be key. Evaluate your portfolio to keep it in alignment with your risk tolerance and long-term goals. Consider speaking with a financial professional to adjust your asset allocation in response to new market trends or economic policies that may impact your investments.
- Take Advantage of Tax-Efficient Strategies
Tax laws can change with a new administration, potentially affecting income taxes, capital gains, and estate taxes. Proactive tax planning can help you minimize liabilities and maximize savings. Review your retirement contributions, charitable giving strategies, and tax-efficient investment options to make sure you’re making the most of available opportunities.
Final Thought: Adaptability is Key
While no one can predict exactly what will happen in 2025—especially with economic shifts, policy changes, and market fluctuations, those who adapt, should thrive. A well-thought-out financial and estate plan can allow you to navigate uncertainty with confidence. By being proactive, informed, and strategic, you can turn change into opportunity—charting a strong financial path for yourself, your business, and your loved ones.
As you set your resolutions this year, make financial preparedness a top priority. Planning today means confidence in tomorrow.
Allwealth Planning is based in Phoenix, AZ and you can learn more about them at allwealthplanning.com or call (844) 297-5266.
Eric Bottolfsen, Co-Founder, Financial Planner. 2325 E Camelback Rd, #400, Phoenix, AZ 85016
Securities and advisory services offered through Cetera Advisor Networks LLC, member FINRA / SIPC, a broker-dealer and registered investment adviser. Cetera is under separate ownership from any other named entity.
For a comprehensive review of your personal situation, always consult with a tax of legal advisor. Neither Cetera Advisor Networks LLC nor any of its representatives may give legal or tax advice.
The opinions contained in this material are those of the author, and not a recommendation or solicitation to buy or sell investment products.
A diversified portfolio does not assure a profit or protect against loss in a declining market.
Rebalancing may be a taxable event. Before you take any specific action be sure to consult with your tax professional.
All investing involves risk, including the possible loss of principal. There is no assurance that any investment strategy will be successful.