Fall Financial Checkup
5 Easy To-Do’s to Finish The Year Strong
As the season changes and 2026 approaches, now is the perfect time to pause and reflect on your financial progress. A fall checkup can help you finish 2025 on a high note and set you up for success in the New Year.
Here are 5 questions everyone should ask themselves this Fall:
1. Am I on track to meet my 2025 financial goals?
Did you plan to pay off debt, boost your emergency fund, buy a home, or grow your investment portfolio?
Take a moment to assess;
-Are you where you hoped to be by now?
-Do you need to adjust your budget?
-Is there anything you have been putting off that you need to take care of before the year wraps up?
By reviewing these items now, you have a chance to identify and adjust for any shortfalls early. If your income or expenses changed significantly this year, now is the time to connect with your advisor to realign your plan.
2. Have I maxed out my TFSA for the year?
Your 2025 TFSA contribution room is $7,000. Are you on track to use it? TFSAs grow tax-free, which means they are ideal for both short and long-term goals.
Consider:
-Topping up your account to take advantage of any unused contribution room.
-If shifting funds from a taxable savings account is the right move for you.
-Reviewing your investment allocation to make sure it is still aligned with your goals and risk tolerance.
3. Should I contribute more to my RRSP?
While the RRSP contribution deadline isn’t until March 2, 2026 contributing in the Fall spreads out the cost and helps avoid a last-minute scramble.
Ask yourself:
-Did I earn a higher income this year?
-Can I use the RRSP deduction to reduce my taxable income?
-Would a Spousal RRSP help with income-splitting?
Your RRSP contribution limit is 18% of your earned income, up to $32,490 for 2025.
Didn’t max out your TFSA or RRSP in previous years? No problem, unused contribution room carries forward. You can check yours by logging onto your CRA My Account.
4. Are there tax strategies I can use before year end?
A few smart moves before December 31 can lower your 2025 tax bill.
-Harvest capital losses in non-registered accounts to offset any gains.
-Make any charitable donations now to get your receipts before year-end.
-Review and document any medical expenses that are eligible for a deduction.
-Consider making interest payments on investment loans.
You should talk to your advisor or accountant about tax-efficient moves based on your situation.
5. Is my estate and insurance plan up to date?
Life changes, have your plans kept up?
-Review your Will, Healthcare Directive and Power of Attorney.
-Confirm beneficiaries on registered accounts, pension plans and insurance.
-Check life, disability and, critical illness coverage
If you’ve had a major life event (marriage, children, divorce, new assets), you should update your documents ASAP.
Why Fall is the best time to reboot
Fall offers a quiet window before the holidays to take action on your outstanding to do’s. Use this time to fine-tune your finances and head into the New Year feeling organized and confident.
Do you need help reviewing your finances? Book a Fall check-in so we can make sure your money is working for you.
TL;DR:
-Check if you’re on track with 2025 financial goals.
-Max out your TFSA ($7,000 limit for 2025).
-Consider RRSP contributions before year-end planning.
-Use smart tax strategies (donations, capital loss harvesting, medical expenses).
-Review and update your estate & insurance plans.
Fall is the perfect time to reset, catch up, and head into 2026 organized and confident.
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