As the end of the year approaches, many individuals and families are looking forward to some well-earned rest, holiday celebrations, and for some, a year-end bonus. But before you unplug completely, there’s one more important area that deserves your attention: your finances. At Portman Wealth, we believe that year-end is not just a time for reflection, but for strategic financial planning that sets you up for success in the new year. Whether you’re eyeing a tax break, planning for retirement, or deciding how best to use your bonus, the right financial decisions now can make a significant difference later.

1. Review and Reassess Your Financial Goals

Start by asking:

• Did I meet my savings and investment goals this year?
• Has anything in my life changed (new job, child, property, etc.)?
• Are my current financial strategies still aligned with my future goals?

Taking stock now helps you course-correct early, instead of waiting until January when the momentum of a fresh start might lead to rushed or reactive choices.

2. Make the Most of Your Bonus

A year-end bonus is a valuable opportunity to grow your wealth, but without a plan, it can disappear quickly. Consider:

• Topping up your retirement savings to maximise allowable deductions
• Paying off high-interest debt to improve your financial position
• Boosting your emergency fund (aim for at least 3–6 months of expenses)
• Investing in a tax-free savings account (TFSA) for long-term growth
• Setting aside funds for upcoming goals like school fees or home upgrades.

Want to enjoy part of your bonus guilt-free? Allocate a specific portion for leisure – but at Portman Wealth we encourage our clients to let their plan guide their choices, not impulses.

3. Optimise Your Tax Position

Year-end tax planning isn’t about loopholes – it’s about smart, proactive structuring. Here are key areas to review:

• Retirement Contributions: Are you taking full advantage of your deductible limits (currently up to 27.5% of your taxable income)?
• Capital Gains Tax (CGT): Have you used your annual CGT exclusion wisely? Consider realising gains or losses strategically.
• Donations: Charitable giving to registered public benefit organisations (PBOs) is tax-deductible up to 10% of taxable income.
• Tax-Free Investments: Are you close to your annual TFSA limit of R36,000? If not, you still have time.

At Portman Wealth we also work with you to ensure your Tax  is strategically structured to ensure you are getting your full tax benefits.

4. Review Your Retirement Plan

Whether retirement is decades away or just around the corner, year-end is the perfect time to ensure your plan is on track. Questions to consider:

• Am I contributing enough to meet my desired retirement age and lifestyle?
• Are my investments aligned with my timeline and risk profile?
• Have I reviewed my beneficiary nominations and retirement fund strategy?

A retirement gap left unaddressed for too long can grow significantly, so early action now means less pressure later – and that’s where our expert advice can prove invaluable. We work with you to ensure your retirement savings are on track.

5. Schedule a Financial Planning Session

Partnering with a trusted wealth adviser like Portman Wealth can help you bring clarity to complex decisions. We assist our clients with:

• Bonus allocation strategies
• Tax-efficient investing
• Retirement gap analysis
• Estate and trust planning
• Holistic goal-setting for the year ahead.

Ready to Close the Year Strong?

You don’t have to navigate the year-end rush alone. With the right advice, you can enter the new year organised, confident, and prepared. Let Portman Wealth help you turn your year-end financial to-do list into a launchpad for long-term prosperity. Book your consultation now to optimise your tax strategy, investment decisions, and retirement planning before the year closes.