A new year always brings updates.
And 2026 is no exception.

Social Security, Medicare, retirement accounts, and tax rules have all shifted. Some changes are modest. Others could affect planning decisions you make this year and beyond.

Below is a high-level look at the most important 2026 updates, along with what they may mean for you.

To make this easier, we also put together an updated Important Numbers 2026.pdf​
It covers key updates from the One Big Beautiful Bill, including tax brackets, IRMAA thresholds, standard deductions, QCD limits, and more, all on two simple pages.

Use it as a reference as you review your plan this year.

2026 Retirement Planning Updates

1. Retirement Account Contribution Limits

If you plan to maximize your workplace retirement plan in 2026 and spread contributions evenly throughout the year, now is the time to review your deferral percentage.

This applies to employer plans such as 401(k)s, 403(b)s, and 457(b)s.

For IRAs and HSAs, if applicable, review any automatic contributions to confirm they reflect the new 2026 limits and still align with your overall savings goals.

A small adjustment early in the year can prevent surprises later.

2. Social Security Changes for 2026

After a 2.5 percent COLA in 2025, Social Security benefits increased by 2.8 percent in 2026.

For example, a $3,000 monthly benefit rose by about $84 per month.

Prices remain higher than they were several years ago, but this adjustment reflects inflation closer to long-term historical levels, despite what headlines may suggest.

For those still working, the maximum amount of earnings subject to Social Security tax increased from $176,100 in 2025 to $184,500 in 2026. Higher earners may notice slightly higher withholding as a result.

3. Medicare Premiums Increased

The standard Medicare Part B premium rose from $185.00 per month in 2025 to $202.90 per month in 2026, an increase of about $215 for the year.

IRMAA surcharges also matter more than ever.

For 2026, the first IRMAA tier begins at:

• $109,000 of MAGI for single filers
• $218,000 for married couples filing jointly

Remember, Medicare uses a two-year lookback. Your 2024 income determines your 2026 premiums.

That means decisions you make today around withdrawals, Roth conversions, and realized gains can influence future Medicare costs.

4. Annual Gift Tax Exclusion

The annual gift tax exclusion remains $19,000 per person in 2026.

In practical terms:

• You can give $19,000 to any individual without triggering federal gift tax
• Married couples can gift $38,000 per person if they choose to split gifts

These gifts can be a thoughtful way to help family members, support education or housing needs, or gradually reduce the size of a taxable estate over time.

5. Other 2026 Tax Highlights Worth Noting

A few additional changes to keep on your radar:

• Catch-up contributions for higher earners​
Starting in 2026, employees age 50 or older with W-2 income above $150,000 must make catch-up contributions to employer plans as Roth. This may increase current-year taxes but can reduce taxes on future withdrawals.

• Income tax brackets​
Tax rates remain the same, but income thresholds increased slightly, offering more room before moving into a higher bracket.

• Standard deduction​
The standard deduction increased to $32,200 for married couples filing jointly and $16,100 for single filers.

• Qualified Charitable Distributions​
The QCD limit increased to $111,000 in 2026. QCDs remain available to individuals age 70½ or older and can help satisfy RMDs once they apply, while potentially reducing taxable income.

Bottom Line

There is a lot to track in 2026.
You do not need to memorize it all.

That is exactly why we created the Important Numbers 2026.pdf. Use it as a quick reference as you review contributions, consider tax strategies, or think through upcoming decisions.

As always, thoughtful planning is about understanding how these changes fit into the bigger picture, not reacting to headlines.

We hope this overview helps you start the year with clarity and confidence.

Have any questions, comments, or feedback? Just hit reply! We personally go through and answer each message.
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Thanks for reading!
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​Keeping wealth in focus,

The MY Wealth Management Team