As 2026 begins, financial adviser Kenny Meiring advises individuals to assess their finances honestly and simplify their plans for better security. Key steps include reviewing budgets, risks, investments, and estate arrangements to align with current life priorities.
Entering 2026, Kenny Meiring, an independent financial adviser, outlines practical steps to improve personal finances. He emphasizes starting with an honest assessment of assets, debts, income, and expenses to understand one's financial picture fully. 'You cannot improve what you do not measure,' Meiring notes, highlighting the importance of this foundational step. Next, individuals should re-examine life priorities, ensuring that investments, insurance, and cash flows match current circumstances rather than outdated ones. A misaligned plan can lead to unnecessary stress. Reviewing the budget involves tracking inflows and outflows, identifying inefficiencies like unused subscriptions or outdated insurance premiums. Small adjustments here can build surplus for savings or investments. Risk management is crucial: Meiring recommends checking life insurance coverage to clear debts and support dependents, income protection for potential disabilities, and critical illness cover for medical emergencies, especially without a strong emergency fund. For investments, with recent stock market gains and a stronger rand, portfolios may need rebalancing across asset classes, economies, and currencies to manage risks effectively. An annual review ensures the plan supports goals in varying market conditions. Estate planning should not be delayed; verify wills, beneficiary nominations, and asset structures to avoid costs and delays upon death. Meiring warns against procrastinating, as offshore accounts left unmanaged can complicate inheritance. Overall, simplification is key—consolidate, clarify, or eliminate redundancies. Working with a trustworthy planner promotes consistent progress. 'Good financial planning is about progress made consistently, reviewed regularly and adjusted as life unfolds,' he concludes. This approach helps avoid financial drift and sets a clear direction for the year.
