Your Mid-Year Money Checkup: What Changed In 2026
08/10/26
We're past the halfway point of 2026, which makes this a good time to pause and take stock (pun intended). A handful of changes went into effect this year that are worth a quick look; none of them are complicated, but a few small adjustments now can make a real difference.
- Retirement contributions limits increased. If you have a 401(k), 403(b), or similar workplace plan, you can now contribute more than you could last year, and if you're 50 or older, your catch-up limit went up too. If you set your contribution percentage a while back and haven't touched it since, it's worth checking whether you're actually maxing out what you're now allowed to save.
- A new rule for higher earners.* If you're 50+ and earned more than $150k in the previous year, there's a change worth knowing about: any 401(k) catch-up contributions you make now have to go into a Roth account rather than pre-tax. That's a shift in how those dollars are taxed today versus in retirement, and it's worth thinking through how it fits your broader plan, especially if you've been leaning on pre-tax contributions to manage your current tax bill.
For example: if you’re 55 years old and earned $155k the previous year, you’re eligible to contribute $24,500 [regular contribution] + $8,000 [catch-up contribution] to your 401(k). However, you have to contribute the $8k to a Roth 401(k) now rather than to a pre-tax 401(k) as you might have in the past. Therefore, you will get a tax deduction on the $24,500 but not the $8,000.
- Social Security numbers moved too. Both the amount of income subject to Social Security tax and the maximum monthly benefit increased this year. If you're getting close to claiming, this is a good moment to revisit your strategy.
- Don't forget your Required Minimum Distributions. If you're required to take distributions from retirement accounts this year, now is a better time to plan for it than December. Waiting until year-end tends to create rushed, less thoughtful decisions.
None of these changes are dramatic on their own. But together, they're a good excuse to sit down, look at where things stand, and make sure your plan still reflects what's true today rather than what was true a year or two ago.
*Do not use this as advice about your specific situation. Please contact me to talk about your specific situation. You are never charged for meetings or advice.