Five Planning Opportunities to Review Before Year-End

As the calendar moves toward year-end, attention often shifts to deadlines, tax slips, contribution limits, and market outlooks. While those items are important, some of the most valuable planning opportunities begin with a broader question:

Is your financial plan still aligned with your goals?

The final months of the year provide an opportunity to step back, assess progress, and identify adjustments that may help strengthen your overall financial strategy.

1. Revisit Your Financial Goals

Financial plans are designed to evolve.

A goal that felt important 12 months ago may look very different today. Career changes, retirement plans, family developments, health considerations, business decisions, and lifestyle priorities can all influence the direction of a financial plan.

Year-end is a good time to ask:

• Have my priorities changed?
• Am I progressing toward my long-term goals?
• Have any new opportunities or challenges emerged?
• Does my current strategy still reflect what matters most?

Even small course corrections can have a meaningful impact over time.

2. Review Retirement Readiness

Whether retirement is five years away or twenty-five, year-end can be an excellent opportunity to review your longer-term projections.

Areas worth reviewing may include:

• Retirement timing assumptions
• Estimated income needs
• CPP and OAS considerations
• Registered and non-registered savings
• Expected lifestyle costs
• Inflation assumptions

Many people focus heavily on accumulating assets but spend less time considering how those assets may ultimately support their retirement goals. Regular reviews help ensure assumptions remain realistic and aligned with changing circumstances.

3. Evaluate Potential Tax Planning Opportunities

While tax planning is often associated with spring, many planning opportunities occur before December 31.

Depending on your circumstances, year-end may be an appropriate time to review:

• Contribution strategies
• Charitable giving plans
• Investment-related tax considerations
• Income and withdrawal strategies
• Business-related planning opportunities

Every situation is unique, and tax decisions should always be considered within the context of a broader financial plan.

The goal is not simply reducing taxes today. It is making decisions that support your long-term objectives while maintaining tax efficiency where appropriate.

4. Review Estate Planning Documents

Estate planning is often postponed because it feels like something that can wait.

However, outdated documents can create unnecessary complexity when life circumstances change.

Consider reviewing:

• Beneficiary designations
• Powers of attorney
• Wills
• Executor appointments
• Estate distribution wishes

Major life events such as marriage, divorce, the birth of a child, the loss of a family member, or significant changes in financial circumstances may warrant a review.

A well-structured estate plan helps ensure your wishes are clearly documented and provides guidance for those who may one day be responsible for carrying them out.

5. Schedule a Year-End Planning Conversation

Sometimes the most valuable planning opportunity is simply taking the time to have a conversation.

A year-end review can help identify planning opportunities, uncover potential gaps, and provide clarity around the decisions that may be approaching in the year ahead.

Topics may include:

• Retirement planning
• Tax considerations
• Estate planning
• Investment strategy
• Business planning
• Family wealth discussions

While markets, legislation, and personal circumstances will continue to change, a well-designed financial plan can provide a framework for making informed decisions along the way.

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As the year draws to a close, it’s worth asking:

Are the financial decisions you’re making today still supporting where you want to be tomorrow?

Whether you’re reviewing an existing plan or considering a fresh perspective, taking the time to have a planning conversation can help provide greater clarity heading into the year ahead.

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The opinions expressed are those of the author and not necessarily those of CI Assante Wealth Management Ltd. This material is provided for general information and the opinions expressed and information provided herein are subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Before acting on the information presented, please seek professional financial advice based on your personal circumstances.