Your Pre-Flight Financial Checklist: Don't Let 2026 Take Off Without It

Your financial life deserves the same level of discipline and attention to detail.

With just days left in 2025, now is the time to complete your year-end financial pre-flight. The December 31st deadline isn't just a date on the calendar—it's your last chance to make strategic moves that will set you up for a stronger 2026.

Why This Matters More for Pilots

I've spent over 30 years in the cockpit, and I learned the hard way that our industry can change overnight. After 9/11, I was forced to choose between a leave of absence or furlough. There were no flying jobs. No backup plan. No financial runway.

That experience taught me something every pilot needs to understand: You cannot afford to "wing it" with your money.

Too many pilots are flying through their financial lives on autopilot. They're earning solid six-figure incomes but have no idea where the money goes each month. They're not maximizing their 401(k) contributions. They're missing tax advantages. They're ignoring contract updates that could cost them thousands.

The result? When turbulence hits—and in this industry, it always does—they're not prepared for the descent.

The December 31st Deadline: Your Final Approach

Think of December 31st like your final approach to landing. Once you cross midnight into 2026, certain opportunities are gone. You can't go back and adjust your 2025 tax situation. You can't retroactively max out retirement contributions. You can't recapture lost time.

Here's what you need to accomplish before the clock runs out:

YOUR YEAR-END FINANCIAL PRE-FLIGHT CHECKLIST

CONTROL CHECK: Retirement Contributions

• Max out your 401(k): The 2025 limit is $23,000 ($30,500 if you're 50+). Check your year-to-date contributions NOW.
• Verify catch-up contributions: If you're 50 or older, are you taking advantage of the extra $7,500?
• Review company match: Are you leaving free money on the table? Some airlines require specific contribution patterns to capture the full match.
• Consider Roth vs. Traditional: Based on your current tax bracket and contract status, which makes more sense?

INSTRUMENTS CHECK: Tax Planning

• Review contract changes: Did your airline implement pay raises, per diem adjustments, or schedule changes? How does this affect your tax bracket?
• Track your expenses: If you have a side business (rental property, consulting, LLC), have you documented all deductible expenses?
• Estimated tax payments: Self-employment income from side ventures requires quarterly payments. Are you current, or facing penalties?
• Tax-loss harvesting: Review investment accounts for opportunities to offset gains before year-end.

NAVIGATION CHECK: HSA Contributions

• Max your HSA if eligible: 2025 limit is $4,150 for individuals, $8,300 for families (plus $1,000 catch-up at 55+)
• Triple tax advantage: This is one of the best deals in the tax code—don't miss it

SYSTEMS CHECK: Beneficiaries & Documentation

• Review ALL beneficiary designations: 401(k), life insurance, IRAs, bank accounts
• Update after life changes: Marriage, divorce, births, deaths—your beneficiaries should reflect your current reality
• Confirm backup beneficiaries: Don't leave gaps that send your assets to probate

FUEL CHECK: Emergency Fund & Cash Flow

• Calculate your monthly living expenses: Not what you think you spend—what you ACTUALLY spend
• Assess emergency fund: Do you have 6-8 months of expenses in liquid savings?
• Create a spending plan for 2026: Pilots without a plan are just hoping they don't run out of fuel

WEATHER CHECK: 2026 Planning

• Review your airline's financial health: Contract negotiations coming? Merger rumors? Industry headwinds?
• Identify your #1 financial goal: Not five goals. ONE priority that you'll execute on in Q1 2026
• Schedule your annual financial review: Put it on the calendar now, just like your annual medical

The Cost of Complacency

I've talked to hundreds of pilots over the years. The ones who struggle financially aren't flying for regional carriers or making entry-level pay. They're senior captains earning $300K+ who somehow have nothing to show for it.

The problem isn't income. It's the lack of a plan.

They're "winging it"—and that's a recipe for an emergency descent when the industry inevitably hits turbulence again. Because it will. Bankruptcies. Furloughs. Medical issues. Industry disruptions. The only question is when.

Your Clearance for 2026

You have 72 hours to complete this pre-flight checklist. Not next month. Not "when things slow down." Now.

In the cockpit, we don't skip checklist items because we're busy or tired. We complete them because they're non-negotiable for a safe flight.

Your financial life deserves the same standard.

Take command of your year-end financial approach. Review your numbers. Max out those contributions. Update your beneficiaries. Create your plan.

Then cross into 2026 with confidence, knowing you've done the work that separates pilots who merely earn good money from those who actually build lasting wealth.

The tower is clear. You're cleared for landing.

Captain Melinda
Financial Flight Path

Plan. Prosper. Fly. ✈️