We’re at the halfway point for 2026 and it’s the perfect time to take stock of your financial goals that you put into play at the start of the year. Whether you’re hitting all of your milestones or dealing with a few curveballs, a mid-year review can help ensure you stay on track.

Financial Goals
Since January, has your financial situation changed? For example, have you been hitting your monthly targets for budgeting, building an emergency fund or paying down debt?

If you’ve splurged or spent more than anticipated, now is a good time to adjust or trim your budget. Look at your non-essential expenses like dining out and regular monthly bills like your cell phone. Can you reduce spending in these or similar areas each month?

If your goals were lofty, are they still realistic or do you need to make adjustments to your timelines or savings targets? By taking a closer look, you can help ensure your goals are manageable and sustainable for the rest of the year and beyond.

For example, using a technique such as SMART goals can help you establish how you’re going to reach your objectives:

• Specific (S): Clearly define what you want to achieve, including who, where and why.
• Measurable (M): Include concrete criteria to measure progress and define success.
• Achievable (A): Set realistic goals that are attainable given your resources and constraints.
• Relevant (R): Ensure the goal aligns with broader, long-term objectives or core values.
• Time-bound (T): Set a specific deadline or timeframe to create urgency and focus.

Retirement Contributions
Whether you have an employer-sponsored plan like a 401(k) or an individual retirement account (IRA), take some time to reassess your contributions. To reduce your taxable income, ensure you’re maximizing your contributions to your 401(k), IRAs or other retirement savings vehicles. A trusted tax and/or financial advisor can help prepare you by suggesting any necessary changes based on your specific circumstances, as well as assessing your overall allocation amounts.

Business Income & Expenses
If you’re a business owner, carefully analyze your finances, including profit and loss statements, estimated tax payments and potential deductions. If you offer and/or participate in a retirement plan such as a SIMPLE (Savings Incentive Match Plan for Employees) IRA or Simplified Employee Pension (SEP) IRA, check your current contributions to confirm that you’re maximizing the opportunities they offer.

For example, SEP plans can provide a significant source of income at retirement by allowing employers to set aside money in retirement accounts for themselves and their employees. While SIMPLE IRA plans allow employees and employers to contribute to traditional IRAs set up for employees. Connect with your tax and/or financial advisors to ensure you’re on track for the remainder of the year.

Estate Planning
Setting aside time at least once a year to review your estate plan helps ensure your assets will be properly distributed. For example, if you’ve had a change in marital status, welcomed a new addition to the family or had a change in financial status, check your documents and beneficiary designations to make sure they have the latest information.

Commonly known estate planning documents include:

• Last Will and Testament: A legal document that describes to whom and how you want your property distributed, names the person or entity that will administer your estate and specifies who will care for your minor or disabled child.
• Trust: A separate legal entity that can hold property and assets for the benefit of one or more people or entities and can be implemented while you're living or at your death, usually through your Will. Trusts may incur upfront costs and often have ongoing administrative fees.
• Durable (financial) power of attorney: A document in which you name someone to act on your behalf for a specific purpose or to manage your financial affairs should you become unable to do so yourself.
• Health-care directives: A health-care proxy and a living will allow you to express your wishes about the administration of medical treatment and life-prolonging measures during times when you cannot otherwise express those intentions.

Many strategies and tools are available to help you carry out your estate plan. In most cases, these tools are governed by specific state law, as well as federal law in some instances. Therefore, you should consult with a knowledgeable estate planning attorney to ensure that your legal documents and estate plan comply with the appropriate laws.

Tax Preparation
While it seems far away, it’s never too early to start gathering tax documents for next year, including receipts, invoices, checks, proof of medical expenses and charitable donations. While you’re reviewing your financial goals, you should also review your tax withholdings from your paychecks to ensure you’re setting enough aside.

Charitable Contributions
Charitable giving can also play a key role in an estate plan by helping to ensure that your philanthropic wishes are carried out and potentially reducing your estate tax burden. Ways to incorporate charitable giving into your estate plan include Will and trust bequests; designating charities as the beneficiary of insurance policies and retirement plan accounts; and charitable lead and charitable remainder trusts. (Trusts incur upfront costs and often have ongoing administrative fees. The use of trusts involves complex tax rules and regulations. You should consider the counsel of an experienced estate planning professional and your legal and tax professionals before implementing such strategies.)

Your Financial Roadmap
A carefully crafted financial roadmap is essential for achieving long-term stability and success. At Busey Wealth Management, our dedicated Financial Planning team is here to make that vision a reality.

Our team includes CERTIFIED FINANCIAL PLANNER™ (CFP^®) professionals and candidates who focus exclusively on building thoughtful, intentional financial plans. As fiduciaries, we’re committed to acting in your best interest and our objective is simple: to provide personalized advice that aligns with your goals.

Learn more about our holistic services by visiting busey.com/wealth-management.

This is not intended to provide legal, tax or accounting advice. Any statement contained in this communication concerning U.S. tax matters is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties imposed on the relevant taxpayer. Clients should obtain their own independent tax advice based on their particular circumstances.

This material is provided for educational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities.

This presentation is for general information purposes only. It does not take into account the particular investment objectives, restrictions, tax and financial situation or other needs of any specific client.