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Starting 2026 Right Thumbnail

Starting 2026 Right

Daniel Weiss CFP® EA

As the new year approaches, it is a good time to stop, think, and consider how you'd like your personal finances to look 12 months from now. 

Do you want your assets to reach a certain number? Pay down a liability that has been on your mind? Take steps to be more tax efficient? Get that estate plan in-place that has been on the to-do list for too long? 

Below is a list of five things you can consider taking action on next year to level up your finances.

  1. Traditional IRA Contribution—For those with earned, US taxable income, it could be beneficial to contribute to a Traditional IRA. Investments in this type of account grow tax deferred. Moreover, you can either take a tax deduction on the contribution amount or make it a nondeductible IRA contribution and build basis in the account. There are income limitations on the tax deductibility and, if living abroad in a high-tax jurisdiction, a deduction might not be beneficial. 
  2. Roth Conversion—In the same vein as above, if you have an overweight of pre-tax IRA or 401(k) funds, you can consider boosting your after-tax Roth account to increase your tax-free nest egg and tax diversity. Depending on income, it might be possible to fill up your current bracket without jumping into the next marginal tax rate (e.g., maximize the 24% bracket without entering the 32% band). There are also estate planning benefits to bequeathing Roth assets, rather than pre-tax. Keep in mind that in some countries, Roth IRA growth and distributions are taxable. 
  3. CPF Top-Up—For those with a Singapore connection, there is an option to top-up your CPF Special Account (SA) each year. You can contribute up to the full retirement sum or enhanced retirement sum depending on age, but only the first S$8,000 qualifies for tax relief. Funds within SA grow at 4% annually, so receiving the tax deduction and stable growth could be of benefit. The tax relief only applies if your SA balance is less than the full retirement sum. However, for US taxpayers this strategy could actually increase your US tax bill.
  4. Supplementary Retirement Scheme (SRS) Contribution—Similarly, there is an option in Singapore to save to an SRS account. Citizens and Permanent Residents can contribute S$15,300 annually while foreigners can save S$35,700. The contribution amount qualifies for a tax deduction. However, you typically cannot withdraw the funds until the statutory retirement age (age 64 in 2026) without owing penalties and income tax on the distribution. Again, for US taxpayers, contributions can increase your US tax liability. 
  5. Fund a Trust—One item or an estate plan that is often overlooked is ensuring you are properly utilizing a trust. This means ensuring your assets are in the name of your trust, including investment accounts, bank accounts, and real estate. Assets in a trust avoid probate and go to the beneficiaries directly. However, assets outside of a trust without beneficiary designations go through probate to pass to the intended recipients. This can be a time consuming and expensive process.

With 2025 wrapping up and the beginning of 2026 quickly approaching, there is a good opportunity to reflect on what financial goals you have for the new year. For more information on how to be strategic with your wealth and achieve your goals, please reach out to one of our wealth planners.

From all of us on the Avrio team, we wish you health, wealth, and happiness in the new year!


This material is intended for educational and informational purposes only. It is not intended to provide specific advice or recommendations for any individual. Additionally, you should consult with your Financial Advisor, Tax Advisor, or Attorney on your specific situation. The views expressed in the material are that of the author and do not necessarily reflect those of any market, regulatory body, State or Federal Agency, or Association. All efforts have been made to report or share true and accurate information. However, the information may become materially outdated or otherwise rendered incorrect due to subsequent new research or other changes, without notice. The author nor the firm are able to always verify the content from third-party sources. For additional information about the firm, please visit the MAS Website at https://www.mas.gov.sg/  and the SEC Website at www.adviserinfo.sec.gov. For a copy of the firm's ADV Part 2 Brochure, please contact us at info@avriowealth.com.