October is National Financial Planning Month, making it the perfect time to check if your finances are ready for the year ahead. It also kicks off Medicare Open Enrollment (Oct. 15–Dec. 7), a key season for retirees to review health coverage and costs.
Together, these make fall the ideal time to reset, realign, and refine your financial strategy.
Why October Is a Perfect Checkpoint
As the year winds down, October offers a natural opportunity to:
- Review progress toward your 2025 financial goals
- Optimize tax strategies before year-end
- Revisit your retirement income plan and spending habits
- Make sure healthcare and insurance coverage fit your evolving needs
According to the Certified Financial Planner Board of Standards, Financial Planning Month is meant to “highlight the benefits of proactive, holistic financial planning.” (CFP.net, 2025)
A Quick Financial Fall Checklist
Take an hour this month to walk through these essentials:
Focus Area
Retirement Income
Investments
Tax Planning
Healthcare Coverage
Estate Plan
Key Question
Are you drawing from accounts efficiently to minimize taxes?
Does your portfolio still match your risk tolerance and goals?
Can you harvest losses or make last-minute contributions before Dec. 31?
Are your Medicare plans still cost-effective and aligned with your needs?
Are wills, beneficiaries, and powers of attorney current?
Longevity reminder: There’s a 50% chance one member of a 65-year-old couple will live to age 95 and a 20% chance one will live to 100. (Investment News, 2025)
Medicare Open Enrollment: What You Need to Know
From October 15 to December 7, Medicare beneficiaries can:
- Switch between Original Medicare and Medicare Advantage
- Join, drop, or change Part D prescription drug plans
- Adjust coverage to better match current health and cost needs
Changes take effect January 1, 2026. (Medicare.gov)
What’s Changing for 2026
- Part B Premiums Rising: Projected to increase 11.6% to about $206.50 monthly. (Investopedia, 2025)
- Drug Plan Options Shrinking: The number of standalone Part D plans will drop by more than 20%. (KFF.org, 2025)
- Out-of-Pocket Cap: Beginning in 2025, a $2,000 cap on prescription drug costs takes effect. (CMS.gov)
Even if you’re happy with your plan, review it annually—formularies, networks, and premiums can change quietly in the background.
Smart Steps to Take This Fall
- Review Your Medicare Plan Early
Use the Medicare Plan Finder to compare 2026 costs for your prescriptions and providers. - Refocus on Year-End Tax Moves
Consider tax-loss harvesting, Roth conversions, or charitable contributions to manage taxable income—especially if you’re near IRMAA thresholds for Medicare premiums. - Rebalance Investments
Market shifts can change your allocation. Rebalancing now helps realign risk before the new year. - Update Your Estate & Beneficiaries
Make sure your will, trust, and power of attorney reflect your current wishes and family structure. - Plan for Rising Healthcare Costs
Healthcare inflation continues to outpace general inflation—rising 7% in 2025. (PwC Health Research Institute, 2025)
Your Fall Financial Refresh
Think of this season as a “financial reset.” A few focused hours between now and December can help reduce taxes, align your portfolio, and ensure your health coverage fits your life.
At SFA Wealth, we believe there’s no “cookie-cutter” retirement plan—just strategies built around your goals, your lifestyle, and your vision for the years ahead.
So grab a cup of coffee, your latest statements, and contact SFA Wealth so we can review with you. Being financially fall-ready today can make next year that much more secure.
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