Tee times are on the books, school is almost out for the summer, and beach days are coming. Before we enter the dog days of summer, it’s time for a mid-year check in on your finances. As the market and economic cycles evolve, revisiting your financial plan regularly helps to create peace of mind at any point during your financial journey, especially during volatile and uncertain times.

Since your financial journey is a process, check in with our personal finance calendar, which shares deadlines and priorities for each month, to confirm that you're on track for the year.

If you feel good about where you’re currently at, here’s what you can focus on this summer.

Reflect on Your Goals and Progress

Every financial journey begins with your goals. But it's not 'set it and forget it'; every journey evolves. Summer's slower, relaxing pace creates a natural moment of pause. It's an ideal season to take stock of your financial path. Start by asking yourself: Are your goals the same as they were in January? Have any life events or priorities shifted your financial trajectory?

Take this time to review your 401(k), IRAs, and other investment accounts. Are your allocations still aligned with your risk tolerance and goals? Rebalancing mid-year can help you stay on course. This may be the time to consolidate accounts, if appropriate.

Consider planning a date night with your partner to reconnect with your shared finances and financial goals. Our financial conversation guide has questions to spark a meaningful dialogue.

Also, take a fresh look at your spending and savings. Are your current habits helping you build toward your goals, or do you need to course-correct? Use the year's midpoint to evaluate whether your budget and cash flow strategies are realistic and optimized. Even minor adjustments now can yield meaningful results by year-end.

Update Tax and Estate Plans

No mid-year check-in is complete without reviewing your tax and estate strategies. These aren't just documents. They're dynamic tools that should evolve with your financial picture and life circumstances.

Work with your advisor and tax professional to explore ways to optimize for 2025, especially as the tax environment changes with the current administration’s new policies. Are there charitable contributions, stock options, or gains you can better structure for tax efficiency? Mid-year is a smart time to assess potential opportunities—before year-end deadlines create pressure.

Estate planning is equally critical. Even if you already have a plan, ensure it reflects your current relationships, assets, and legacy intentions. Are your beneficiaries correct? Are your trusts, wills, and powers of attorney accurate and consistent? Outdated and inaccurate paperwork is one of the most common mistakes in estate planning.

By being proactive, you can enhance your financial flexibility, protect your legacy, and head into the second half of the year with clarity and confidence, with strategies such as gifting, charitable trusts, or family foundations that align with your values, all while reducing tax burdens.

Consolidate and Organize Financial Documents

Staying organized is key to long-term financial clarity even with a team of advisors. Take time this summer to review and update your core financial documents. Ensure your will, powers of attorney, insurance policies, and account information are current and stored securely (both digitally and physically). Consider creating a consolidated "financial snapshot" that summarizes key accounts, contacts, and instructions in one easily accessible place. This simplifies your decision-making and ensures your family or executor can act efficiently in an emergency or transition. It’s also a good time to review your cybersecurity habits to protect your online data.

Explore Strategic Opportunities Given Today’s Environment

Mid-year can be an opportune time to check market conditions to identify if there are tax-smart strategies, like tax-loss harvesting, Roth IRA conversions, or rebalancing your portfolio, that you can implement. If you're holding cash on the sidelines, consider whether alternative investments align with your long-term goals. These strategies require planning and coordination, so flag them now to stay ahead of the year-end rush.

Check In with Your Team of Professionals

A well-synced team of professionals is one of the most powerful tools for managing wealth. Summer is a great window to coordinate or confirm meetings with your financial advisor, CPA, estate attorney, or other professionals on your team. A brief alignment meeting can uncover tax-saving opportunities, catch documentation gaps, or surface strategic updates. When your team is working from the same playbook, it enhances efficiency and helps ensure every move supports your broader vision.

Kick Back, Relax, and Read Our Top Picks

Managing your wealth doesn’t have to mean spreadsheets and numbers, enrich your finances with these books recommended by our team.

From Strength to Strength: Finding Success, Happiness, and Deep Purpose in the Second Half of Life
by Arthur C. Brooks

Arthur Brooks is a Harvard professor and social scientist who spent time earlier in his life both as a classically trained French horn player and leading a major Washington think tank. He spends a great deal of his time today thinking about and studying happiness as a columnist for The Atlantic. This book is a roadmap for thriving in the second half of life. If you are not yet familiar with the difference between resume virtues and eulogy virtues, this book will help you understand the difference and why the latter are so much more important. Brooks offers practical advice to shed our reliance on worldly success and rewards and find true fulfillment in the present.

Think and Grow Rich
by Napoleon Hill

Think and Grow Rich has been called the "Granddaddy of All Motivational Literature," and while the title may suggest it is solely about the pursuit of wealth, the book examines the key principles for leading a more successful, happy, and driven life. He discusses the philosophy behind the "secret" to success, and enhances the narrative with stories from the lives of Andrew Carnegie, Thomas Edison, Henry Ford, and other millionaires of his generation.

The Art of Money
by Bari Tessler

This is a book for people who don't like books about money yet struggle to attend to the financial area of their lives for seemingly mysterious reasons. There is a lot of practical help and advice for topics such as learning your numbers, choosing a book-keeping system, creating a financial vision, and building your support network; but the book also tackles the bigger blocks that can keep people from getting into the practical stuff in the first place.

The Hour Between Dog and Wolf
by John Coates

Explores the biology of risk taking and how financial booms and busts affects the hormonal chemistry of our bodies, driving us to extreme highs and lows.

Check out more of our recommendations (they’re not all finance related!) on our book list.

Your financial journey is never ending and always evolving

Wherever you are on your financial journey, take time this summer to check in with your plan. A seasonal refresh helps support and confirm your long-term wealth growth as your finances align with your goals throughout changing market and economic conditions.

Please consult with an attorney or a tax or financial advisor regarding your specific legal, tax, estate planning, or financial situation. The information in this article is not intended as legal or tax advice.