We’re halfway through 2025, and whether you started the year with a full-blown financial plan or just crossed your fingers and hoped for the best, now is the perfect time to recalibrate. You still have six months to hit your goals, course correct, and make real progress toward a wealthier future.
Let’s take a breath, zoom out, and do a mid-year check-in that puts you back in control.
Start with a 30,000-Foot View
Before we get tactical, we need to get honest. What’s gone well so far this year? What’s been less-than-great? Where did things drift, and where did you surprise yourself?
This isn’t about beating yourself up—it’s about adjusting your strategy. Look at your income, your spending, your net worth, and your progress toward any goals you set back in January (if you even remember them). Now, refocus:
- What do you want to achieve financially by the end of this year?
- Are you on track with savings and investing?
- What needs to change to finish strong?
Getting clear on where you stand is step one to making the next six months count.
Check Your Income and Tax Picture
Your income sets the tone for everything else. If your earnings have changed this year, it might be time to update your tax planning and savings strategy. Here’s how your tax bracket could influence your next moves:
High earners (32%+): Lean into pre-tax contributions like a 401(k) or HSA to lower your tax bill.
Lower earners (24% and below): This might be your Roth moment. Consider post-tax contributions while your rates are low.
Already maxed your retirement plan at work? Think about backdoor Roth IRAs or topping off an HSA if you’re eligible.
Adjust Your Cash Flow Plan
A lot can change in six months. Maybe your vacation spending crept up or business slowed in Q2. This is a great time to fine-tune your cash flow.
Review your budget (or create one, no shame!) and think through upcoming expenses. Are you:
- Saving consistently for things like travel or home upgrades?
- Building your emergency fund?
- Spending intentionally, or on autopilot?
The goal isn’t austerity. It’s alignment. Make sure your money is supporting the life you want—now and in the future.
The 20% Rule: Save Like You Mean It
One powerful mid-year goal? Work toward saving 20% of your income. If that feels like a leap, start by increasing what you’re saving now by just 2-5%.
And use this order of operations to make the most of those dollars:
- Get your full 401(k) match.
- Max out your 401(k) and/or Roth IRA if possible.
- Contribute to an HSA if eligible.
- Invest any extra in a brokerage account.
Having a mix of tax-deferred, tax-free, and taxable accounts sets you up for long-term flexibility.
What to Do with a Raise (Hint: Don’t Spend All of It)
If your income went up this year, congrats! Just don’t let lifestyle creep eat the whole pie. A smart framework:
- Enjoy 10% guilt-free (yes, you can upgrade your coffee habit)
- Save or invest the remaining 90%
- Automate your transfers so it doesn’t take willpower
This simple shift can massively accelerate your financial momentum.
Planning for Employees vs. Business Owners
If you're a W2 employee, now is the time to bump up automated savings and make sure you’re on pace to max out any employer-sponsored plans.
If you’re a business owner, things get more nuanced:
- Income may fluctuate, so build larger reserves
- Decide how you’ll use Q3/Q4 profit: reinvest, save, or spend
- Check your estimated taxes and adjust if needed
Your financial rhythm might be different, but the outcome can still be powerful.
Review Your Investment Mix
Halfway through the year is the perfect time to rebalance. Look at your allocation—have you drifted too far into one asset class? Are your cash reserves too high (or too low)?
Use a simple bucket strategy:
- Cash for short-term needs
- Fixed income for stability
- Growth investments for the long haul
Also consider: have you contributed as much as you planned to your IRAs, HSAs, or 529s? Still have time to max out? Great—do it now before the end-of-year scramble.
It's Personal on Purpose
Financial planning isn't one-size-fits-all. Your goals, your lifestyle, your dreams—they all shape the plan. Whether you're chasing early retirement or just trying to stay ahead of inflation, the key is to stay flexible and review often.
Build a plan that’s as dynamic as your life. Save with purpose. Spend with intention. And don’t forget to enjoy some of it along the way—wealth isn’t just what you build, it’s what you get to live.