Year-End Planning Beyond The Numbers

Peter Pabich |

With December upon us, you may be actively thinking about year-end - especially with to-be-determined tax reform looming. This may include a number of to-do’s such as reviewing your investment portfolio, assessing your tax liability, and updating your estate plan. These are all important tasks. But, beyond that, we believe now is an opportune time to reflect on the past year - memories made and challenges overcome - and to dream ahead to the coming year. 

We believe wealth management is about more than just the numbers and that it’s when we pause and reflect on the intangibles of life that we can move closer to the future we desire. Below please find our top year-end tips to help you live a life well balanced.

Celebrate your successes

First and foremost, now is a time to acknowledge all that you have accomplished throughout the past year. Be it professional growth, the welcoming of a new family member, or the time you invested in doing something you are passionate about. 

By nature, we tend to focus on the negative and what we want to change. However, the closing of a year is a great time to express gratitude and appreciation for all that you and those you love have achieved. This positive energy will also help you remain confident and motivated as you tackle new goals in the new year. 

Helpful questions to guide your reflection:

  • What did you do this year that you had never done before?
  • What were your most meaningful moments?
  • When you think back on this past year, what are you proud of yourself for?


Identify learnings

Year-end is also an important time to consider any challenges you faced throughout the past year and what learnings you might take away from them. Whether it was the loss of a loved one, health challenges, or changes at work, the close of the calendar year can be an opportunity to assess what went well, what didn’t, and how that might impact your considerations for the future. The key here is to appreciate what these challenges have taught you and use these learnings as information to guide your intentions for the coming year. 

Helpful questions to guide your reflection:

  • What surprised you from this past year?
  • What do you wish you’d done more of?
  • What do you wish you’d done less of?


Build your vision for the future

Whether you see 2022 as an opportunity to continue to work towards your existing goals or you consider the new year a blank slate, it’s important to have a clear vision for the future. This includes how you want to spend your time, the type of lifestyle you want to lead, and the relationships you want to nurture. It’s also helpful to assess your financial goals and health considerations as part of your plans for the year(s) ahead. Having a clear vision will simplify your decision making moving forward, helping you navigate important decisions in a way that moves you closer to your goals.  

Helpful questions to guide your planning:

  • How do you want to feel in 2022?
  • What brings you the most joy and how are you going to do or have more of that in 2022?
  • What does success look like to you next year?


Plan for the year ahead 

Now that you have a clear vision of your future, it’s time to put a plan in place to help you realize that vision. Some helpful things to consider:

  • Find your why - understanding what is the driving force behind your vision will help you stay consistent and accountable as you work towards it
  • Communicate your vision to those close to you (including your Entrust Wealth Partners advisor) to ensure you get the support you need to move closer to your goals
  • Create a routine that supports how you want to feel and how you want to be spending your time in the new year

Our goal is to help you nurture what is most important to you and your family. Not only are we committed to helping you grow and protect your wealth in a way that supports your lifestyle and legacy goals, but we are committed to helping you manage your most important resource - time. We hope you’ll find these tips helpful as you look ahead to a healthy, happy year with family and friends.

Interested in discussing your goals for the coming year with our team? Reach out to your advisor or contact us at (860) 838-3730.