Financial Experts Reveal Top Money Moves for 2026

Morgan Stanley's Gary Beckman shares 5 key steps to maximize savings and prepare for the year ahead.

Published on Feb. 5, 2026

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As 2026 begins, financial experts are advising people to review their budgets, tackle debt, update insurance and estate plans, and maximize retirement contributions. Morgan Stanley's Gary Beckman outlined five essential steps everyone should take to get their finances in order, including reviewing goals, revisiting household budgets, and addressing market volatility and education funding concerns.

Why it matters

With potential economic and geopolitical risks on the horizon, taking proactive steps to shore up one's finances can help provide stability and prepare for the year ahead. The advice covers key areas like retirement savings, debt management, and education planning - critical components of long-term financial health.

The details

Beckman recommends five key steps: 1) Review everything to ensure you're on track with your goals; 2) Revisit your household budget; 3) Tackle any outstanding debt; 4) Update insurance plans and estate documents; and 5) Maximize retirement contributions, including taking advantage of catch-up provisions for those over 50. He also advises being mindful of market volatility, geopolitical risks, and the impact of changes to 529 education savings plans.

  • The maximum 401(k) contribution for 2026 is $24,500 for employee salary deferrals.
  • Those over 50 can contribute an extra $8,000 as a 'catch-up' in 2026.
  • Individuals aged 60-63 may be able to contribute up to $11,250 in 'super catch-up' contributions, for a total of $35,750 if permitted by their plan.

The players

Gary Beckman

Senior Vice President of Wealth Management at Morgan Stanley in Columbus, Ohio.

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What they’re saying

“Make sure your ducks are lined up in a row. You want to be able to maximize your savings, make sure if you're participating in a 401(k), that you're getting your match, if it's available to you.”

— Gary Beckman, Senior Vice President of Wealth Management (10tv.com)

“Financial plans are living things, not static and change over time as your life stages change.”

— Gary Beckman, Senior Vice President of Wealth Management (10tv.com)

What’s next

Individuals should consult with their financial advisor to determine the most appropriate investment and savings strategies based on their specific goals and risk tolerance.

The takeaway

Taking proactive steps to review and optimize one's finances at the start of the year can help provide stability and prepare for potential economic and market challenges in the year ahead. Key focus areas include maximizing retirement contributions, managing debt, and ensuring education funding plans are on track.