| Now that we’re deep into the silly season and looking forward to some down time, here’s a checklist of things to do before you head on out for that well-deserved break. (In case you don’t get to read all of this post, I have consolidated my last 4 posts on planning for 2026 into an eBook, available free on request). |
 |
| Is your Will in order? I have written extensively about Wills and Estates in the past, so I won’t repeat myself here, but just reiterate the main points: Make sure that family or friends know where your Will is. In my RedFile organisational system (still available for free on request) it is the first chapter. If you haven’t had it reviewed recently, I also have a Will checklist on request. A signed, complaint Will is better than nothing, but if you really want to up your estate planning game, read my posts, especially around the ‘wisdom’ (or lack thereof) of having a bank, insurance company or estate/legacy company as the executor. If you’re going outside of RSA for your break, inform your Medical Aid so that you get the extra offshore cover (free) and emergency numbers. This applies to any time of the year. I have had to help clients in this situation before, and overseas medical bills can run into the millions very quickly. You might also have extra cover with your Gap Cover provider, so check. Check your life insurance policies and short-term insurance, and make sure you print out recent policy documents and put them in your RedFile. Check that the beneficiaries are correct – these beneficiaries override whoever you have in your Will and will pay them directly. This can be changed quickly; speak to the broker on record. You may not have time to ‘optimise’ those policies right now, but that can be put on your next year’s to-do list. (Use an independent financial advisor who has access to all the different insurance providers; they are not all the same, and some of the benefits are dated to the point of being antiquated.) |
 |
| Prepay or set a scheduled payment for utilities or other important payments so they are not forgotten. January is basically December’s hangover. Budget for school fees, renewals, debit orders and avoid the annual “How is it the 25th already?” Check your emergency fund. If you don’t have one, maybe start with some of your bonus? Nobody wants a miserable Januworry. Make sure you’re stocked for any surprises life (or visiting relatives) might throw at you. Review year-to-date spending. I have gone over this in my 4-post series, now available as a free eBook on request. A quick look will tell you whether you’ve been a disciplined dolphin… or a cash-burning kraken – and maybe go into 2026 with a different mindset. Review remaining tax allowances before you get lost in the business of a New Year. Retirement contributions, tax-free savings, capital gains harvesting—don’t let SARS keep more apples from your orchard than necessary. Review your investment allocations. This is especially important if you’re DIY-ing your investments, or if someone isn’t paying attention to your investments. Are you still balanced? Or has one asset class grown like a fast-fertilised weed? This year, where tech shares in the States have produced amazing returns, and even RSA has had a good year, it is easy for a share or sector to run away from the pack, and you can end up with share concentration. It’s great fun – until the helium runs out and that balloon deflates. Think about locking in some profits and diversifying your portfolios. As a rule of thumb, 5% in a single share is probably the upper limit. If you’ve been buying ETFs or Trackers based on Market Capitalisation (rather than equal weighting), especially out of the States or China, be aware that you might have unintentionally given yourself this ‘share concentration’. On the Nasdaq, for example, 5 shares – Nvidia (13.7%), Microsoft (12,1%), Apple (10,8%), Amazon (7,8%) and Meta (6%) are all over 5% in market capitalisation and make up 50,4% of the exchange! |
 |
| In short, get your ducks in a row, and if you’re going away, make sure you have a gamekeeper close to home who knows what pond they’re in (your RedFile). |
| Cobie Legrange and Dawn Ridler, Rexsolom Invest, Licensed FSP 45521. Email: cobie@rexsolom.co.za, dawn@rexsolom.co.za Website: rexsolom.co.za, wealthecology.co.za |