By Anne McCabe & Atricia Roberts
Mapping your financial future is an ongoing process. Although it would be wonderful if everything went according to plan, it’s sometimes necessary to do a financial reset to verify you’re still on track.
The start of the new year is a great time to reset your finances. We’ve identified five strategic moves to consider. Best of all? Each takes only about 30 minutes to two hours to complete.
Move 1: Reassess Your Emergency Fund
When you have an emergency fund, you’ll be able to move through life with greater confidence. But how much do you need?
There’s no one-size-fits-all amount your emergency fund should have. However, as part of your financial reset, you should take a close look at your savings. We suggest saving at least the following amounts based on your situation:
- Single-Income Households: 6 to 9 months of expenses
- Dual-Income Households: 3 to 6 months of expenses
- Self-Employment/Commission-Based Income: 9 to 12 months of expenses
- High Earners With Irregular Income: 12+ months of expenses
Don’t be discouraged if you haven’t hit your savings target yet. Having some emergency savings is always better than having none.
Move 2: Update Your Beneficiaries
This might seem like a trivial part of your financial reset, but it’s more important than you may realize. Many people don’t know that beneficiary designations on accounts almost always trump what their wills say.
This means that if you’re divorced and change your will but you forget to change the beneficiary designation on your retirement account, your hard-earned money could go to your ex-spouse. Taking a few minutes to make this change now can save your loved ones from hassle and confusion in the event of your unexpected death.
Move 3: Adjust Your Tax Withholding
Checking in on your tax withholding is an important part of your financial reset. If you don’t withhold enough, you may owe underpayment penalties. However, if you withhold too much, you’re effectively giving the IRS an interest-free loan instead of putting your money to work for you.
If you have multiple income sources, this step is crucial. The IRS has a free withholding estimator tool, and our team can also help you create a personalized tax withholding plan.
Move 4: Max Out Your Retirement Contributions Early
As we move into the new year, your financial reset should include reviewing the 2026 contribution limits for common types of retirement accounts:
- 401(k), 403(b), 457: $24,500 (plus $8,000 catch-up for 50+ or $11,250 “super catch-up” for 60-63)
- Traditional or Roth IRA: $7,500 ($8,600 for 50+)
- SEP IRA: 25% of compensation (up to $72,000)
Note: Beginning in 2026, employees who earn more than $145,000 in W-2 wages can use Roth catch-up contributions for 401(k), 403(b) and governmental 457(b) plans only. This is true for both the standard catch-up and the “super catch-up” for those ages 60-63.
Many savers don’t realize that the timing of your contributions matters. If at all possible, max out your contributions earlier in the year. The sooner you contribute, the more you’ll benefit from compound interest.
Move 5: Schedule Financial Check-Ins for the Upcoming Year
Plenty of people start the new year with grand aspirations. But all too often, the complexities of daily life get in the way. When you schedule quarterly financial check-ins, you’re holding yourself accountable. You’re also increasing the chances of your financial reset being a success.
Ready for Your Financial Reset?
The financial reset tips above offer some general strategies to get you started. However, if you want to craft a financial plan that’s tailored to you and your needs, Curo Private Wealth is here to assist.
Our team helps clients make smart, strategic decisions by viewing their financial lives as a whole, not in silos. Our holistic approach combines thoughtful financial planning with proactive investment management, so each move supports what matters most over time. We begin with your priorities (family, career, and lifestyle) and focus on the areas you can control, including having a solid plan, appropriate asset allocation, and disciplined decision-making. This structure helps turn intentional financial resets into lasting progress, even in uncertain environment
If you have questions about us or what we do, contact us online today. Ready to feel calm, organized, and confident about your money? To get in touch, call (301) 652-9677 or email info@curoprivatewealth.com.
Frequently Asked Questions
What is a financial reset, and why is January an ideal time to start one?
A financial reset is a structured review of your goals, cash flow, investments, and planning decisions to confirm they still align with your life today. January is an ideal time because it creates a natural pause after year-end activity, allowing you to make proactive adjustments before habits, markets, and tax decisions compound throughout the year.
What should be included in a meaningful financial reset?
An effective financial reset goes beyond budgeting or market predictions. It typically includes revisiting what matters most to you, evaluating your overall financial picture, confirming asset allocation aligns with your goals, and focusing on the factors you can control—planning, discipline, and decision-making—rather than reacting to uncertainty.
How can working with a wealth advisor support long-term financial clarity?
A wealth advisor helps bring structure and perspective to complex financial decisions by coordinating planning and investment management into one cohesive strategy. At firms like Curo Private Wealth, this holistic approach helps clients focus on priorities, manage risk thoughtfully, and make strategic decisions that support long-term progress rather than short-term reactions.
About Atricia
Atricia Roberts is Chief Operating Officer and Partner at Curo, where she serves as lead advisor for Rockville clients and helps guide the firm’s growth and operations. With more than 15 years in financial services, Atricia is passionate about delivering human-centered financial planning and expanding access to comprehensive education for underserved communities. A CFP® professional, she focuses on helping clients align their finances with their life goals. To learn more about Atricia, connect with her on LinkedIn.
About Anne
Anne McCabe is Chief Executive Officer and Partner of Curo Private Wealth, where she sets the firm’s vision and leads its advisory practice. With more than two decades in the industry, Anne’s career began on Wall Street before evolving into a mission to build a firm rooted in purpose, integrity, and values-driven advice. A CFP® professional, she is widely recognized for her leadership, mentorship, and commitment to lifelong learning. To learn more about Anne, connect with her on LinkedIn.