Video Transcript:
Hey, everyone. This is Michael Cuozzo from Condor Capital, and I’m here to give you five steps to strengthen your finances in 2026. As we head into 2026, a lot of people are asking what they can actually do to improve their financial picture. Today, I want to share five practical moves around saving, spending, investing, estate planning, and goal setting that can help make a real difference.
Our first tip is to revisit your savings strategy, not just your savings rate. First, take a fresh look at your savings, not just how much you’re saving, but where it’s sitting and whether it’s being put to work. We often see clients holding more cash than they need in low-yield accounts, simply because it builds up over time. A good rule of thumb is to keep 3 to 6 months worth of short term and emergency funds accessible, but make sure this excess cash is working appropriately for your goals.
For example, a good portion of your emergency cash should be in higher yielding money market savings accounts. Online banks such as VIO Bank and Bask Bank are some good examples for this. It’s also a great time to confirm that contributions are set up properly for your 401(k) or employer plan, especially if you’re trying to max out these contributions.
Importantly, if you’re over 50, you can also make catch-up contributions to these types of accounts, most notably thanks to SECURE Act 2.0. Those over 50 who had FICA wages of over $150,000 in the previous year must make these catch-up contributions on a Roth basis, starting in 2026. Remember, you can still make 2025 contributions to a Roth, a SEP, or a traditional IRA up until April 15th of this year. Those over 50 can also make catch-up contributions to these types of accounts, as well.
Our second tip is simplify your budget instead of tightening it. You don’t need a spreadsheet that tracks every dollar, though for some people, that works really well. What’s more effective for most is understanding your big picture cash flow: what’s coming in, what’s going out, and whether your spending aligns with what you actually value. There are several budgeting apps, which may be good options for staying organized without getting overwhelmed, and automation can do a lot of the heavy lifting here.
Third, make sure your investment strategy still reflects your current situation and that it’s being reviewed regularly. Markets move, but so do life circumstances. Income changes, retirement timing shifts, and new goals come into focus. Our job is to keep the portfolio aligned with your time horizon, risk tolerance and priorities, which often means rebalancing, making adjustments or managing concentrated positions over time. These are things you need to track daily, but they do benefit from a steady process behind the scenes.
If you’re ever unsure whether your portfolio still fits your goals or if something significant changes in your life, just reach out. That’s exactly what we’re here for.
Fourth, review your estate planning documents even if nothing feels wrong. Life changes, family dynamics change, laws change, and accounts change. It’s crucial to ensure you have a will, and also check to make sure that account beneficiaries, powers of attorney, and other basic documents are up to date. This is one of the simplest ways to protect your plan and your family. We can assist with reviewing or implementing a plan if needed, and we’re happy to coordinate with an estate planning attorney on your behalf.
Fifth, and finally, take time to clarify your goals. Retirement or financial security are good starting points, but clarity comes from details: when, what lifestyle, and what matters most. Think about what you really want, whether it be travel, paying off debt, leaving a legacy. or charitable giving. Clear goals make saving and investing decisions much easier, and they reduce a lot of financial stress.
Overall, none of these are about chasing trends or making drastic changes. They’re about alignment, making sure your money is supporting the life you’re trying to build. If you haven’t revisited these areas recently, 2026 is a great time to start. And if you have questions about how these apply to your situation, we’re always happy to help.
