As life evolves, so do your financial priorities. Whether you’re preparing to retire, have already stepped back from work, or are simply keen to reduce complexity, now is a valuable time to review and refresh.
The Swedes have a philosophy called döstädning, or ‘death cleaning.’ Despite the stark name, it’s not morbid, it’s about thoughtfully organising your life to make things easier for those you love and you can do it at any age! The idea is simple: by decluttering your physical and financial world now, you remove unnecessary stress later. It’s an act of care, control and clarity.
Inspired by Margareta Magnusson’s The Gentle Art of Swedish Death Cleaning, this mindset can apply beautifully to your money too. Sorting pensions, consolidating accounts, updating Wills, ordering your finances, checking in on your investments, reviewing your life cover – it all brings peace of mind and a real sense of progress.
And the best part? It’s not about perfection. It’s about moving into the next season feeling lighter, clearer and more intentional. Think of it as financial sunbathing: clearing the clouds so your goals have space to shine.
Why you should have a summer financial reset
Whether you’re approaching retirement or already enjoying it, taking time to simplify and organise your financial life can:
- Help you feel more in control and confident
- Clarify what income, protection and legacy plans are in place
- Reduce future stress or confusion for your loved ones
- Ensure your finances still align with your needs, goals and wishes.
Some key steps…
It’s a good idea to make a checklist and work your way through.
Key steps include:
Streamline your finances
Close accounts you don’t use, cancel unused subscriptions or memberships and explore ways to cut back on wasteful spending. Reducing clutter helps with oversight and makes things easier if someone else ever needs to step in
Build a document library
Gather all important documents, including Wills, insurance policies, investment portfolios and property deeds. Consider storing documents securely online. Having an easily accessible document library will help make sure your loved ones can find critical information quickly when needed
Keep beneficiary information up to date
Review and update beneficiary details on life insurance policies, pensions and expressions of wishes to ensure they reflect your current wishes and intentions. Don’t fall into the trap of having an ex-spouse listed as a beneficiary, for example
Revisit your investments
Are your assets positioned for the life stage you’re in now and the years ahead? For some, it’s about reducing risk or drawing income. For others, it’s about preserving capital and simplifying structures. A financial review helps ensure your investments match your goals
Review your life insurance
You may no longer need certain policies – or they may play a new role in estate or inheritance planning. It’s worth checking whether your cover is still appropriate
Maximise tax-efficiency
We’re well into the 2025/26 tax year. That brings opportunities to review allowances and reliefs:
- Make the most of your ISA and pension contributions
- Use your CGT exemption if you’re selling shares or property
- Review your estate planning, including gifting, trust structures and potential Inheritance Tax (IHT) strategies
- Even modest steps could reduce your future tax liabilities and give your family greater certainty.
Consider your retirement income plan
If you haven’t retired yet, now is the time to check whether your pensions and other assets will give you the lifestyle you want. If you’re already drawing income, make sure the approach you’re using remains sustainable and tax efficient
Making your plans known to others
Discussing your financial arrangements with trusted family members and keeping them updated on changes you’ve made is an important part of the process too. Intergenerational financial planning involves managing wealth and financial strategies across multiple generations of a family, focusing on ensuring financial security, preserving assets and facilitating smooth wealth transfer while considering tax implications, estate planning and family values. They’re really valuable conversations to have.
Take control
Tidying up your financial life doesn’t need to be stressful or complicated. Done right, it can help you feel empowered, confident and more intentional with your time and money – while giving your loved ones peace of mind, both now and in the future.
Creating a thoughtful legacy
Getting your finances in order is more than just admin. It’s a thoughtful act of love for your future self and those you care about. It’s about living well now, reducing future stress, and leaving things simple, clear and intentional. Maybe those Swedes really are on to something.
Ready for your summer financial reset?
Whether you’re preparing for retirement or already enjoying the next chapter, now is a great time to pause, reflect and realign. Your financial planner can help you get organised, so you can focus on enjoying life with more peace of mind.
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. The Financial Conduct Authority (FCA) does not regulate Will writing, tax and trust advice and certain forms of estate planning.
Estate planning: How to ‘death clean’ your finances
Eight steps to prepare your finances before you die