At Pathview Wealth Advisors, we believe there is one simple way to get ahead financially in 2026: start saving. Our family-focused team provides tax-centric planning and tax-efficient wealth management to help you make informed financial decisions.
Who Isn’t Saving?
First, consider the current savings landscape. A Bankrate study from August 2025 shows that many Americans still do not save enough for retirement.
If you fall into one of these categories, begin saving now to improve your financial position.
How Do You Measure Up to Your Peers?
Next, compare your progress to others. Measuring total savings across generations is challenging because it includes assets beyond IRAs and 401(k)s—such as real estate, brokerage accounts, HSAs, and savings accounts. However, Fidelity’s late-2024 study offers a useful benchmark based on average 401(k) balances:
This data suggests that Gen Z and Millennials have significant opportunities to improve their savings.
Four Steps to Get Ahead Financially in 2026
1. Max Out Contributions:
Start by taking advantage of higher IRS limits for 2026:
401(k), 403(b), and similar plans
- Contribution limit: $24,500 (up from $23,500 in 2025)
- Catch-up (age 50+): $8,000
- Special catch-up (ages 60–63): $11,250
IRA (Traditional & Roth)
- Contribution limit: $7,500
- Catch-up (age 50+): $1,100
(Source: https://www.irs.gov)
2. Automate Savings:
Then, set up automatic contributions to maintain consistency and avoid missed opportunities.
3. Review Your Investment Allocation
After that, align your portfolio with your long-term goals and risk tolerance. Our tax advisors and financial planners can help you create a tax-efficient investment strategy.
4. Consider Roth Options
Finally, explore Roth accounts. Tax-free growth can strengthen your long-term financial plan and support tax-efficient planning.
Conclusion
The most effective way to get ahead in 2026 is to start saving today. Aim to save 20% of your gross income, but if that feels challenging, begin with a smaller amount like 1% and increase it gradually. Ready to take the next step?
Connect with our San Diego-based wealth management team for tax planning, financial planning, and personalized strategies today.
This content is for educational purposes only and is not investment, tax, or legal advice. Investing involves risk, including possible loss of principal. Consult your own financial or tax professional before making decisions.