4 items to include in your 2026 financial planning checklist

We’ve all been there. Life happens, and before you know it, your will is out of date, you’ve lost track of your pension savings, and your savings and investments aren’t growing as you’d hoped.

In many cases, it’s worth revisiting your financial plan regularly to ensure it stays aligned with your needs. As time passes, your personal circumstances and goals are likely to evolve, while stock market fluctuations, interest rate changes, and new legislation could open up new financial opportunities and challenges.

To help keep your finances on track in 2026, read on to discover four things you might wish to include on your financial planning to-do list this year.

1. Review and update your will to ensure it’s still accurate and relevant

A lot can change in a year. As such, it’s often worth revisiting your will annually to ensure it still reflects your estate and wishes.

Here are a few questions to consider when reviewing your will:

• Have you acquired any new assets or disposed of any listed in your will?
• Could any new relationships, or changes to existing ones, alter your choice of beneficiaries?
• Have you made any gifts that would impact the size of your estate?
• Will any recent or upcoming changes to Inheritance Tax legislation, such as the inclusion of pensions in tax calculations, affect the amount your beneficiaries will receive?

A financial planner can support you to evaluate your estate and the impacts that any gifts and legislative changes might have on your financial legacy.

If you determine that you do need to update your will, it’s important to clearly label the latest version to avoid any ambiguity after you pass away. It’s often worth ensuring someone you trust is aware of the updated document and knows where to find it.

Likewise, you may wish to revisit any accompanying documentation and Lasting Power of Attorney registrations to ensure they reflect your wishes in 2026.

2. Check in on your pension pot to stay on track to meet your goals

Whether retirement is just around the corner or decades away, it’s usually a good idea to keep an eye on your pot as it grows. That way, you can stay on track more easily to help achieve your retirement goals.

Here are some key considerations to keep in mind:

• If you have multiple pension pots, remember to review all their balances when tracking the progress of your total retirement savings.
• In some cases, it might be worth consolidating your pensions into a single scheme to simplify your admin and, where applicable, reduce fees.
• As you approach retirement, you might also wish to review your pension’s investment portfolio to make sure it aligns with your risk appetite in your final years of saving.

A financial planner can help you determine if consolidation is an appropriate option and support you in bringing funds together or reviewing your portfolio’s risk alignment.

3. Revise your investment portfolio and goals to help keep them aligned with your needs

Whether you’re new to the stock market or have been investing for some time, you may have created an investment strategy that defines your preferred asset mix, risk appetite, and goals.

As your investments grow, you may find that your portfolio no longer aligns with your selected asset mix. As such, you may wish to rebalance your portfolio to ensure the desired proportion of your wealth is invested in your chosen asset classes. It’s prudent to speak to a professional before rebalancing your portfolio.

Over time, you may also find that your risk appetite changes. You may become more comfortable with taking on risks for the chance of higher returns, or, conversely, you may wish to lower your risk profile if you’re approaching retirement. Again, this could mean adjusting your portfolio to align with your preferences.

Finally, your goals can also change as time passes. Perhaps you’re now planning to sell your investments earlier than expected, or maybe you’re considering leaving them to the next generation in your will. By revisiting your investment strategy and portfolio, you can check they’re still aligned with your goals.

4. Revisit your savings rates to boost interest growth

If you’re growing your wealth with interest in a savings account (or multiple accounts), shopping around for a higher rate could help accelerate your savings’ growth.

• Consider a fixed-term account: The interest rates available for savings are changing constantly. If you currently have savings in an easy access account, you may be able to secure a higher interest rate for a defined period by moving funds into a fixed-term account.
• Ensure you have the access you need: It’s important to note that you will generally be unable to access funds during your fixed term, so be sure to consider your needs before locking your savings away for a prolonged period.
• Compare Individual Savings Accounts (ISAs) to standard savings accounts: ISAs are highly tax-efficient but, depending on how much you want to save, you may need a blend of ISAs and standard savings accounts.
• Shop around before your term ends: It can be particularly important to shop around if your accounts are coming to the end of their fixed term. Often, when fixed-term accounts mature, the funds can be automatically moved to an account with a lower, variable interest rate unless you take action.

You could use an impartial comparison tool, such as Moneyfactscompare.co.uk, to assess your options for savings accounts.

In some cases, it might be suitable to spread your savings across multiple accounts with varying term lengths and interest rates. A financial planner can help you define an appropriate strategy for your needs.

Get in touch

Whether you’re getting ready for retirement, thinking about your financial legacy, or focusing on growing your wealth, we can help you create and update a financial plan tailored to your goals, preferences, and circumstances.

Email Marnel.Stafford@fosterdenovo.com or Ryan.Edwards@fosterdenovo.com, or call 07305 970959 or 0207 469 2800, to find out more about how we can help you.

Please note

This article is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing and is subject to change in the future.

Please do not act based on anything you might read in this article. All contents are based on our understanding of HMRC legislation, which is subject to change.

The Financial Conduct Authority does not regulate estate planning, tax planning, Lasting Powers of Attorney, or will writing.

A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Past performance is not a reliable indicator of future performance.

The tax implications of pension withdrawals will be based on your individual circumstances. Thresholds, percentage rates, and tax legislation may change in subsequent Finance Acts.

Your pension income could also be affected by the interest rates at the time you take your benefits. The tax implications of pension withdrawals will be based on your individual circumstances, tax legislation, and regulation, which are subject to change in the future.

The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.

Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.