It’s time to pause, assess and prepare your financial life for what comes next. For military families and Veterans an end-of-year review is an intelligent move. Our team of military financial professionals at AAFMAA Wealth Management & Trust LLC (AWM&T) is delighted to share the below action items to prepare your family for years to come.
1. Revisit Your Goals, Milestones & Legacy
It’s time to evaluate what has changed since last year. Did you experience new career moves? New children or grandchildren? New real estate, or a new partner? Now is the perfect time to establish your goals to ensure that you’re where you want to be in 5, 10, and 20 years.
Action Items:
✔️Write down or update 3-5 key goals (short/medium/long term).
✔️Tag each with a date (time-bound).
✔️Ensure they remain S.M.A.R.T. (Specific, Measurable, Attainable, Relevant, Time-based).
✔️Update your personal values behind these goals and reflect why they are important to you.
2. Cash Flow + Income Review
Between base/allowances, pension, Thrift Savings Plan (TSP) distributions, civilian income, and rental or investment income, your income landscape may be more complex than average. At AWM&T, we understand your unique financial situation and encourage the following steps.
Action Items:
✔️Evaluate pay/allowances changes.
✔️Determine if you are on track with savings contributions (TSP, IRA, 529s, etc.)
✔️Create a quick “income vs. expense” report for the year.
✔️Look for discretionary items you can trim or redirect to savings/repayment.
✔️Consider any one-time or irregular expenses coming up (PCS moves, major home repair, college tuition, etc.).
✔️Project next year’s budget incorporating these new entries.
3. Benefit & Retirement-Plan Check-Up
The military benefit ecosystem offers unique advantages, but only if you understand and leverage them intentionally. This is why our comprehensive financial plans consider your pension, TSP, disability eligibility, Survivor Benefit Plan (SBP), state tax treatment, and more. We’ll help you confirm your retirement system type, review your contributions, and ensure that you’re leveraging all military benefits and tax efficiencies.
Action Items:
✔️Book a meeting to refresh your plan with your Relationship Manager specialising in military families, or get started as a new client.
✔️Request a “benefits summary” for the year ahead.
✔️Map next year’s contribution and retirement-income strategy.
4. Risk Management / Insurance & Asset Protection
Building wealth isn’t only about growth, it’s also about protection. For military families like yours, added layers include: deployment risk, PCS/relocation, survivor considerations, disability/VA benefits, and more. Now is the ideal time to evaluate your insurance coverage and your beneficiary designations. If you’re new to life insurance, you can get a quote from Armed Forces Mutual, our parent company.
Action Items:
✔️Conduct an insurance and asset-protection audit: coverage, beneficiaries, and legal documents.
✔️Make any updates/changes before year-end so the new year starts with clarity.
5. Investment Strategy & Portfolio Review
It’s time to review your portfolio’s performance and alignment with your risk tolerance and goals. Your portfolio may need rebalancing if you experienced asset allocation drift or a change in circumstance or family situation. Our comprehensive Investment Management services are tailored exclusively for military families like yours.
Action Items:
✔️Ask your advisor for a year-end portfolio review.
✔️Revisit target asset allocation and make adjustments.
Identify any new investment or tax-planning opportunities for the coming year.
6. Estate Planning & Generational Wealth Considerations
If one of your goals is preserving wealth across generations then end-of-year is a great time to revisit your estate plan considerations. For example, do you have a will or a trust? Are your children set up for success when it comes to education funding or early financial literacy? Lastly, have you communicated your legacy intentions with your spouse/family so the transition of wealth is smooth and intentional?
Action Items:
✔️Schedule a review of your estate-planning documents.
✔️Share key information with your spouse/family so there’s clarity and alignment.
✔️Consider any philanthropic or legacy initiatives you want to lock in for the new year.
7. Implementation & Monitoring Plan
Once you’ve established the above details, it’s time to implement and monitor your decisions. We recommend you set dates for the first quarter of next year when you’ll revisit your plan (e.g., March, June, September). From there, assign responsible parties such as you, your spouse, or your planner, for key tasks. Suggestions include budgeting, updating insurance, rebalancing your portfolio, or updating your estate documents.
Action Items:
✔️Once you put everything into action, celebrate your progress! You’re taking steps that many delay — recognize your wins!
How Financial Planning Elevates Your Military Family
Your military service changed your lifestyle, your benefits, and your financial structure. End-of-year planning ensures you’re not caught off-guard by the complexities of civilian transition, benefit eligibility, tax shifts, final retirement, or evolving legacy goals.
The sooner you integrate income from military retirement, civilian employment, and investments, the more smoothly you’ll stay on track to building and preserving wealth across generations.
End-of-year isn’t just about closing the books — it’s about preparing your financial mission for the next phase. For military families and retired servicemembers, your goals are distinctive: you’re building legacy, preserving freedom, and supporting those you love.
Start the Conversation with AWM&T
Taking the time now to review your goals, cash flow, benefits, investments, protection and estate plan means you start the new year stronger, clearer and more aligned. AWM&T’s team specializes in serving your needs with the fiduciary standard you deserve. To start the conversation and receive your custom financial plan, please call 910-307-3500 or click here to get started.
About Us
Founded in 2012, AAFMAA Wealth Management & Trust LLC (AWM&T) was created to meet the distinct financial needs of military families. We proudly deliver experienced, trustworthy financial planning, investment management, and trust administration services – all designed to promote lasting security and independence.
We are proud to share the mission, vision, and values of Armed Forces Mutual, our parent company. We consistently build on the Association’s rich history and tradition to provide our Members with a source of compassion, trust, and protection. At AWM&T, we are committed to serving as your trusted fiduciary, always putting your best interests first. Through Armed Forces Mutual's legacy and our financial guidance, we provide personalized wealth management solutions to military families across generations.
© 2025 AAFMAA Wealth Management & Trust LLC. Information provided by AAFMAA Wealth Management & Trust LLC is not intended to be tax or legal advice. Nothing contained in this communication should be interpreted as such. We encourage you to seek guidance from your tax or legal advisor. Past performance does not guarantee future results. Investments are not FDIC or SIPC insured, are not deposits, nor are they insured by, issued by, or guaranteed by obligations of any government agency or any bank, and they involve risk including possible loss of principal. No information provided herein is intended as personal investment advice or financial recommendation and should not be interpreted as such. The information provided reflects the general views of AAFMAA Wealth Management and Trust LLC but may not reflect client recommendations, investment strategies, or performance. Current and future financial environments may not reflect those illustrated here. Views of AAFMAA Wealth Management & Trust LLC may change based on new information or considerations.
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