What can I do financially to prepare for fall?
Summer brings a natural mid-year checkpoint, and it’s one of the best times to get your financial life in order before the rush of fall and year-end.
Whether you’re a high-net-worth professional, business owner, or planning for retirement, checking off a few key goals now can help you finish the year strong.
Table of Contents
- Should I Revisit My Budget and Cash Flow Mid-Year?
- How Do I Know If My Portfolio Allocation Still Makes Sense?
- Are There Tax Planning Moves I Should Consider Before Fall?
- Should I Increase or Automate My Retirement Contributions Now?
- When Should I Revisit My Estate Planning Documents?
- How Often Should I Review My Insurance and Risk Protection?
- Is Summer a Good Time to Meet With My Financial Advisor?
Should I Revisit My Budget and Cash Flow Mid-Year?
Yes, you should! Especially if your expenses, income, or financial goals have shifted in minor or major ways this year. A summer budget refresh can help you realign spending and savings before things get busy again in the fall.
Start by asking:
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Has my income or spending changed?
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Am I on track with my savings goals?
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Are there any seasonal expenses coming up? (School starting, weddings, late-summer vacations, etc.)
Even a 15-minute review can uncover opportunities to optimize. Update your tracking tools, review fixed and discretionary spending, and reallocate toward goals that matter most.
How Do I Know If My Portfolio Allocation Still Makes Sense?
This year, we’ve all seen how quickly and drastically market conditions change.
The same goes for your investment strategy. It needs to remain lightweight, mobile, and adaptable without putting you at risk.
To evaluate your current asset allocation:
- Pull your portfolio data and review each position’s weight.
- Compare your current mix to your target allocation.
- Ask yourself, am I overexposed to any one sector or asset class?
If your investments have drifted due to market growth, rebalancing can help bring your portfolio back in line with your risk tolerance and timeline.
Summer is an ideal time to make these adjustments while markets are relatively stable at the moment.
Are There Tax Planning Moves I Should Consider Before Fall?
Absolutely. Mid-year is a strategic time to make proactive tax decisions rather than waiting until the end of the year when your options are more limited.
This is the ideal window to evaluate opportunities like harvesting capital losses to offset gains, converting to a Roth IRA during lower-income years or after market pullbacks, or making charitable gifts—including to donor-advised funds—before year-end giving rushes.
It’s also wise to revisit your estimated tax payments if your income or bonuses have changed significantly.
Sitting down with a tax advisor now can help you stay ahead of surprises and uncover meaningful savings opportunities before fall.
Should I Increase or Automate My Retirement Contributions Now?
Yes, especially if you’ve recently received a raise, bonus, or have underutilized contribution room, this is the perfect time to reassess your retirement strategy.
Increasing your retirement contributions now (even by just 1–2%) can have a powerful compounding effect over time. Automating those contributions monthly helps eliminate decision fatigue and ensures you’re consistently investing without having to think about it.
If you’re 50 or older, don’t forget about catch-up contributions, which allow you to put even more into your 401(k) or IRA each year.
These extra dollars can significantly boost your nest egg, especially if you’re playing catch-up on savings. By reviewing and adjusting your retirement contributions during the summer months, you give yourself a head start before the year-end rush and set yourself up for long-term financial stability.
When Should I Revisit My Estate Planning Documents?
If you haven’t looked at your estate plan in over a year, summer is a particularly smart time to review it if your family, finances, or priorities have changed.
What to check:
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Is your will still accurate?
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Do your beneficiaries reflect your current wishes?
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Are your powers of attorney up to date?
These updates don’t take long, but they can have major consequences if left untouched.
How Often Should I Review My Insurance and Risk Protection?
Ideally, once a year. Summer works well for this. Think of it as an “annual physical” for your risk management plan.
Types of coverage to revisit:
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Life insurance
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Umbrella liability
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Homeowners or renters insurance
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Business and professional policies
Ask yourself: If something happened today, would my coverage be enough?
The answer often changes as your net worth or lifestyle evolves.
Is Summer a Good Time to Meet With My Financial Advisor?
With fewer market headlines competing for your attention and a bit more breathing room in your schedule, summer is an ideal time to step back and revisit your financial plan.
A mid-year strategy session with an advisor isn’t just for course-correction. It’s a chance to proactively reassess your goals, reflect on any recent changes to your income, taxes, or lifestyle, and make sure you’re still on track.
Even if everything seems to be running smoothly, this check-in can uncover overlooked opportunities or risks.
Getting ahead of your financial life this summer doesn’t require a massive overhaul. Just a handful of intentional moves that help you stay aligned and confident.
At Concenture Wealth Management, we help clients navigate life’s financial transitions with expert planning, smart strategy, and a personalized approach.
Book a free portfolio review today to make the most of the rest of the year and start fall already ahead.
