Summer is a good time to step back, reflect, and realign your retirement strategy. A midyear financial review can help you evaluate whether your goals are still on course before year-end.
By Matt D’Amico, CFP®, ChFC®
You started the year with financial goals and good intentions, but six months later, it’s easy to wonder whether you’re actually making the progress you hoped for. Market movements, spending habits, travel plans, healthcare expenses, and family priorities can all shift your financial picture, making it difficult to know whether you’re still on track toward your long-term goals. That’s why a midyear retirement planning reset can be so valuable.
With several months remaining in the year, summer offers an ideal time to evaluate your financial progress and refine your plans for the months ahead. Here’s how to use the season as a practical checkpoint.
Why Is Summer an Ideal Financial Checkpoint?
Summer sits almost perfectly between the start and end of the calendar year, making it an excellent time to evaluate progress and identify opportunities for improvement.
Unlike the busy holiday season or the rush of January goal-setting, summer often provides a little more breathing room. Whether you’re still working, transitioning toward retirement, or recently retired, a midyear review can help keep your financial decisions aligned with your priorities.
A summer review can help you assess:
- Investment portfolio performance
- Retirement account contributions
- Cash flow and spending patterns
- Healthcare and insurance needs
- Legacy and estate objectives
- Upcoming retirement milestones
Rather than waiting until December, you still have several months remaining in 2026 to make adjustments if needed.
How Should You Review Savings, Investments, and Spending?
Begin by examining your savings progress.
If you’re still working, compare your actual retirement contributions with the goals you established at the beginning of the year. If you’re retired, review how much you’ve withdrawn compared to your original spending plan.
Next, evaluate your investment allocation.
Ask yourself:
- Has my portfolio drifted from its target allocation?
- Am I taking more risk than intended?
- Does my current mix still support my timeline and objectives?
- Have my income needs changed since January?
For individuals between ages 55 and 65, portfolio alignment becomes increasingly important. As retirement approaches, maintaining an intentional balance between growth, income generation, and capital preservation often becomes a larger priority.
Finally, review spending habits.
Many households discover that actual spending differs significantly from projected spending. Travel, home projects, family support, and healthcare costs frequently create midyear surprises.
Look for patterns rather than individual purchases.
The goal is to understand whether your spending supports the lifestyle you want both now and in the future.
What Should Retirement Planning Include Beyond Investments?
An effective financial review extends beyond account balances and portfolio performance.
As retirement gets closer, several interconnected areas deserve attention.
Healthcare Planning
Healthcare expenses continue to be a significant consideration for pre-retirees and retirees in 2026.
Review:
- Health insurance coverage
- Health savings account balances
- Anticipated Medicare enrollment timelines
- Long-term care considerations
Legacy Planning
Many investors begin focusing more heavily on legacy objectives during their late 50s and early 60s.
Questions to consider revisiting:
- Are beneficiary designations current?
- Have family circumstances changed?
- Do estate documents reflect current wishes?
- Is wealth transfer aligned with family goals?
Life Insurance Review
Life insurance needs often evolve as retirement approaches.
Some individuals discover they need less coverage than they once did, while others use insurance as part of broader family safeguarding or legacy planning strategies.
A summer review creates an opportunity to confirm that existing policies still serve their intended purpose.
What Adjustments Can You Make for the Rest of 2026?
After reviewing your current situation, identify a few specific actions for the remainder of the year.
Examples may include:
Increase Savings Contributions
If income allows, additional contributions during the second half of 2026 can help strengthen long-term retirement resources.
Rebalance Investments
Market performance can gradually shift portfolio allocations away from their original targets.
A review may reveal opportunities to restore balance and maintain an appropriate risk profile.
Refine Spending Goals
If actual spending differs from expectations, update projections based on real-world experience rather than assumptions.
Strengthen Emergency Reserves
Cash reserves remain an important part of financial flexibility, particularly for households nearing retirement.
Update Family and Legacy Documents
Midyear reviews often reveal outdated beneficiary designations or estate planning documents that no longer reflect current intentions.
Small adjustments made now can have a significant impact over time.
How Can You Turn a Midyear Review Into Better Long-Term Outcomes?
A summer reset allows you to evaluate where you stand today, compare that reality to your original goals, and make practical improvements before the year ends.
Reviewing savings progress, investment allocation, spending patterns, healthcare considerations, and legacy objectives creates a more complete picture of your financial life.
The second half of 2026 provides ample opportunity to refine your strategy and continue moving toward the retirement lifestyle you’ve worked hard to build.
Realign Your Retirement Goals Before Year-End
Summer is an ideal time to review your progress and make adjustments while there is still time left in 2026.
The team at Networth Advisors, LLC helps individuals and families ages 55+ evaluate their investments, spending, income needs, healthcare considerations, and long-term retirement goals so their financial strategy stays aligned with the future they envision.
If it’s been a while since you’ve reviewed your retirement roadmap, consider using this season as an opportunity to take a fresh look.
To schedule a meeting with us, call (800) 822-3639 or email schedule@networthadvisorsllc.com.
Frequently Asked Questions
How often should I review my retirement planning strategy?
Many people review their retirement planning strategy at least once a year, but a midyear check-in can be especially valuable. Major life events, market changes, healthcare expenses, or shifts in retirement goals may warrant additional reviews. Regular evaluations can help identify opportunities to adjust savings, investments, and spending before small issues become larger challenges.
What should a retirement planning review include?
A comprehensive retirement planning review often goes beyond investment performance. It may include retirement account contributions, portfolio allocation, cash flow, healthcare planning, insurance coverage, beneficiary designations, estate planning documents, and retirement income projections. Looking at these areas together can provide a more complete picture of your financial progress.
Can a midyear retirement planning review improve long-term outcomes?
A midyear retirement planning review can provide time to make meaningful adjustments before the end of the year. For example, you may decide to increase retirement contributions, rebalance investments, update spending projections, or revisit healthcare and legacy planning goals. Taking action while there is still time left in the year can help keep your financial strategy aligned with your long-term objectives.
About Matt
Matt D’Amico, CFP®, ChFC®, is a registered Investment Adviser Representative and financial advisor at Networth Advisors, LLC, a financial planning and wealth management firm in Canonsburg, PA. The firm is dedicated to helping clients enjoy a successful retirement, specializing in income planning and legacy preservation for pre-retirees and retirees. Matt excels at simplifying complex retirement concerns to help clients make smart financial decisions.
Matt discovered his passion for finance in college, inspired by a trusted mentor, and earned a degree in finance and business management from Saint Vincent College. Before joining Networth Advisors, he gained valuable experience at New York Life and MassMutual, where he obtained his Life, Accident & Health Insurance Licenses. Matt is also a CERTIFIED FINANCIAL PLANNER® professional and Chartered Financial Consultant®.
Outside of work, Matt is a sports junkie and music enthusiast. He enjoys spending time with friends, embarking on adventures with his wife, Kayla, and their mini labradoodle, Nellie. He is also the co-author of Networth for Retirement: Mapping Out Your Journey. To learn more about Matt, connect with him on LinkedIn.
