A Few Financial Goals for 2026

With New Year’s Eve on the horizon, it’s time to turn our attention to 2026.

And with 2026 approaching, I – like others – am in the process of reviewing what worked, what didn’t, and what I want for 2026.

I’m a believer in setting goals, although I don’t subscribe to a particular process. So, having said that, here’s a few personal financial goals for 2026.

1. Establish a 12-month emergency fund

Most financial experts recommend an emergency fund worth between 3 to 6 months of living expenses. For trainees, it’s likely OK to benchmark much lower (1 to 2 months) because expenses are low and jobs relatively stable during residency and fellowship.

But as an attending, it’s important to re-assess. I prefer an EF worth 6 to 12 months of living expenses, because it acts as a sort of “get out of jail free” card if a job becomes unbearable. It’s empowering. If you’re asked to start commuting 60 minutes to a satellite hospital during the week? You can leave. If you’re asked to double the number of patients that you see in clinic? You can leave. If you’re asked to do anything, anytime that you find untenable over the long-term? You can leave without fear of financial ruin.

Remember, it can take longer than usual for physicians to find their next job because of geographical saturation, and licensing and credentialing requirements (which can take months). You might also be on the hook for malpractice tail coverage. And if you have a non-compete agreement? Well, mine is 12 months. So, I want to make sure I can live comfortably in my city of choice until the next job begins.

2. Re-allocate my portfolio

I am currently (almost) 100% invested in target-date funds in my retirement accounts.

Is this ideal? Almost assuredly not.

But it the beginning, it was more important to just start than to optimize. Now that I’m a bit better educated, I’m interested in revisiting my asset allocations. Not because target-date funds are bad, but because I want more control: over asset mix, tax positioning, and my ability to add new investment categories strategically.

3. Continue to save 20% of gross income

This was one of the wins of 2025 – setting a savings rate of 20% of gross income.

Here’s the breakdown:

• 6.5% into a 403(b)
• 6.5% into a 457(b)
• 6% into a taxable account
• 1% spread out between an HSA, backdoor Roth, and employer matching accounts

That 20% number is something recommended by almost every physician-focused personal finance book that I’ve read, in large part because, as physicians, our earning years are delayed, and we need to make up for that lost time with higher savings rates.

I’m glad to have reached it.

4. Increase take-home income

I’ve experimented with second sources of income in the past, including consulting, speaking gigs, and medical surveys. The former have been unpredictable, albeit fulfilling. The latter? Too time consuming, too inconsistent. I cannot imagine earning $20,000 to $30,000 from medical surveys alone, as others have claimed. Anecdotally, I was spending an hour for $20 to $50 in reimbursement (if I even made if through the screening questionnaire).

But perhaps it’s time to revisit some of these options in 2026.

That’s it. Just the four resolutions. Something short, simple, and obtainable. Something to build off of for 2027 and onwards. Let’s see how it goes.