What You Might Be Missing in Your Retirement Plan
What You Might Be Missing in Your Retirement Plan
Posted by Morgan Fisher
Serving Cedar Rapids, Iowa, and Surrounding Areas.
What You Might Be Missing in Your Retirement Plan
The Details That Can Make or Break Your Retirement
As we cruise toward year-end, a lot of people we meet in Cedar Rapids and across Iowa are focused on the obvious: market performance, account balances, and “How much did my portfolio earn this year?”
But the real difference between a good retirement plan and a great one often comes down to what’s happening behind the numbers—in tax law, healthcare choices, and even our own behavior.
Here are three under-the-radar areas worth reviewing before 2026 begins.
- Social Security COLA Adjustments Aren’t Guaranteed
The latest Social Security cost-of-living adjustment (COLA) was 2.8%. That sounds reassuring—but the way these increases are calculated could change in the future. Lawmakers can adjust the inflation measure or slow benefit growth, meaning your retirement income might not stretch as far as you expect.
Why it matters to you:
Many retirement plans assume regular COLA increases. If those slow down, your plan may need a larger savings cushion or supplemental income source to maintain purchasing power.
- Behavioral Biases Can Quietly Cost You
We humans are great at logic—until emotions enter the room.
A common example I see regularly: hesitating to convert a traditional IRA to a Roth IRA because it means paying taxes now.
But when future tax rates rise, waiting can cost more than acting early.
Example:
Mary converts $50,000 this year while rates are low. Tom waits because he “hates paying taxes.” When both reach RMD age, Tom’s withdrawals push him into a higher bracket. Mary’s tax-free Roth withdrawals keep her flexible.
- Health-Care and Medicare Decisions Are Part of Your Financial Plan
As open enrollment season rolls around, many retirees overlook how changing health plans or drug coverage can impact long-term costs.
If you’re on Medicare, review your Part D prescription plan and Medicare Advantage or Supplement coverage annually. Networks change. Formularies change. Costs change.
Why this matters to you:
A missed plan update can cost thousands over time. Reviewing your Medicare options each fall is one of the simplest ways to protect your retirement budget.
Your Year-End Retirement Checklist
Before 2026 begins, take time to:
-Review your Social Security assumptions (plan for lower COLAs).
-Identify your behavioral biases—especially around taxes or investing.
-Re-evaluate your Medicare and healthcare coverage.
-Consider a partial Roth conversion while rates remain favorable.
-Schedule a comprehensive retirement review.
At Iowa Retirement Benefits & Solutions, we help retirees across Eastern Iowa stress-test their plans, identify blind spots, and build strategies that last through every market turn.
“The best time to do your future self a favor is… now.”
Schedule Your Year-End Review
If you’d like to discuss your tax strategy, Social Security outlook, or Medicare plan before the year wraps up, reach out to our Cedar Rapids office.
Email us at info@iowaretirementsolutions.com
Call us at 319-423-3332
Click here to schedule your free consultation.
Investment advisory services are offered through Fusion Capital Management, an SEC registered investment advisor. The firm only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. SEC registration is not an endorsement of the firm by the commission and does not mean that the advisor has attained a specific level of skill or ability. All investment strategies have the potential for profit or loss.
