7 Key Areas to Review Before Year-End
September is a natural time to pause and regroup. The busyness of summer has passed, but the year isn’t over yet, which makes it the perfect moment to check in on your finances. With the holidays coming, it’s a good time to review some key financial areas and make adjustments before year-end deadlines hit. Plus, doing a September financial check-up will set you up for a stronger start to the new year.
In this blog, we’ll cover five financial areas to review in September.
1. Review Your Beneficiaries
When was the last time you checked who’s listed as your beneficiaries on accounts and policies? For many people, it’s been years — or they realize they’ve never named a beneficiary!
Life changes, such as marriage, divorce, or the birth of a child or grandchild, don’t automatically update your designations. And in most cases, beneficiary designations override your will, which means outdated forms can have unintended consequences.
Now’s a good time to review the beneficiaries on:
- Retirement accounts (401(k), IRA, Roth IRA)
- Life insurance policies
- Bank and brokerage accounts
It’s also a good time to review your estate plan and/or will, if you have one!
2. Check Your Annual Savings Progress
Are you on track to meet your 2025 savings goals? What about your retirement goals? Reviewing your progress in September gives you time to catch up before the year ends.
For retirement accounts, contribution deadlines are approaching. Here are the contribution limits in 2025:
- 401(k) and 403(b): $23,500 annual limit for 2025
- IRA and Roth IRA: $7,000 annual limit, plus an extra $1,000 if you’re 50+
Health Savings Accounts (HSAs) also have deadlines and offer powerful tax advantages, so make sure you check into your plan details.
3. Revisit Your Emergency Fund
57% of Americans couldn’t cover a $1,000 emergency expense from savings, which is why an emergency fund is so important. Whether it’s a job change, a medical bill, or a home repair, having cash on hand keeps you from relying on high-interest debt when life takes a turn.
Most experts recommend saving 3–6 months of essential living expenses, though your exact number depends on your situation. If you’re nearing retirement, self-employed, or supporting family members, you may want a larger cushion.
As your income and expenses change — such as becoming an empty nester or paying off major debts — your emergency fund target should evolve too.
4. Credit & Debt Review
Your financial health isn’t just about savings. It’s also about how you manage debt and maintain your credit and your savings.
Start by pulling a copy of your credit report at AnnualCreditReport.com. Review it for accuracy and keep an eye on your credit score. The average U.S. FICO score was 718 in 2025, a solid benchmark to compare against.
Next, take stock of your debt balances: mortgage, auto loans, credit cards, and student loans. Ask yourself:
- Could I accelerate repayment on high-interest debt?
- Are there opportunities to refinance or consolidate?
- Do my current debt payments fit into my retirement or lifestyle goals?
Even small changes, like an extra payment toward a mortgage or clearing a credit card, can free up cash flow for bigger goals later on. If you’re unsure whether to prioritize debt or savings, we have a resource for you here.
5. Review Workplace Benefits Before Open Enrollment
Fall is open enrollment season for many companies, presenting a once-a-year opportunity to update your benefits. These choices have lasting financial impacts, so it’s worth reviewing carefully.
Key areas to evaluate:
- Health insurance: Does your current plan still fit your medical needs and family situation?
- Retirement contributions: Are you contributing enough to get the full employer match (if offered)?
- Disability and life insurance: Employer coverage may be minimal. Do you need to supplement it?
6. Revisit Charitable Giving Plans
Many people give at year-end, but waiting until December can mean rushed decisions. Reviewing your charitable giving strategy now allows you to be more intentional and maximize the potential tax benefits.
Options to consider:
- Donor-Advised Funds (DAFs): Make a charitable contribution now, claim a deduction this year, and recommend grants over time.
- Bunching Donations: Combine multiple years’ worth of giving into one year to exceed the standard deduction.
- Qualified Charitable Distributions (QCDs): If you’re 70½ or older, you can donate up to $100,000 directly from your IRA to a charity (tax-free), and if you’re 73 or older, QCDs count toward your required minimum distribution (RMD) for the year.
7. Review Your Insurance Coverage
Insurance isn’t the most exciting part of financial planning, but it’s one of the most important. It protects everything you’ve worked so hard to build. So take stock of your current coverage and compare it to both your net worth and your family’s ongoing needs. Key areas to review include:
- Life insurance: Do your policies cover living expenses, debts, and future goals for your loved ones? A 2023 Insurance Information Institute survey found that 1 in 5 Americans don’t have enough life insurance to cover household expenses for even one year.
- Property & auto insurance: Are coverage levels keeping up with rising replacement costs?
- Umbrella & liability coverage: As your net worth grows, so does your exposure to risk. Extra protection may make sense.
Insurance needs aren’t “set it and forget it.” Just like investments and savings, coverage should evolve as your life, assets, and goals change.
BONUS: 8. Schedule a Year-End Meeting with Your Planner
The end of the year comes quickly—and with it, deadlines for retirement contributions, tax strategies, and more. A proactive meeting with your financial planner now ensures you don’t miss opportunities or scramble in December.
This meeting can cover:
- Reviewing 2025 income and expenses
- Reviewing insurance options
- Reviewing your investment approach and risk tolerance
- Updating your plan for life changes (new job, move, kids leaving home)
- Planning for 2026 goals and tax strategies
Think of it as a way to bring clarity and confidence into the final quarter of the year.
Don’t have a financial planner? Schedule a free consultation with an expert CERTIFIED FINANCIAL PLANNER® professional.
Want to Refresh Your Financial Plan Yourself?
September is the perfect time for a financial check-up. By reviewing these seven areas — beneficiaries, savings progress, workplace benefits, charitable giving, and scheduling a planner meeting — you’ll reduce year-end stress and keep your financial life on track.
But knowing where to start can feel overwhelming. That’s where our DIY Financial Planning Checklist comes in. It’s the closest thing to walking through a full financial plan without working directly with a professional. It’s free, easy to use, and designed to help you consider every important piece of your financial life.
Download your copy here: DIY Financial Planning Checklist.