Here’s my perspective on some of the moves you can make in October 2025, especially for affluent investors focused on long-term financial planning and wealth management in Minnesota.
1. Medicare Open Enrollment Is Here
Medicare open enrollment runs October 15 through December 7. For retirees and near-retirees, now is the time to compare Medicare Advantage and supplemental coverage options. Aligning your health needs with the right plan can help avoid unnecessary out-of-pocket expenses. With more than 65 million Americans enrolled in Medicare in 2025, this decision can carry lasting financial implications for high-net-worth households.
2. Open Enrollment at Work: Don’t Default
Employer benefit elections typically occur in the fall. Affluent investors should use this opportunity to:
- Improve Health Savings Account (HSA) contributions.
- Reassess 401(k) or deferred compensation levels.
- Fine-tune insurance coverage for both efficiency and protection.
Even small contribution increases today can compound meaningfully over time, positioning portfolios for greater long-term wealth accumulation.
3. Tax and Estate Planning Before Year-End
With just three months left in 2025, affluent families should move quickly on strategies that may not be available after this year. Key areas include:
- Charitable giving through donor-advised funds or qualified charitable distributions.
- Tax-loss harvesting to offset capital gains.
- Estate planning while the $13.99 million exemption remains in effect through 2025.
For many, this fall may represent one of the last opportunities to capitalize on today’s favorable estate thresholds.
4. Staying Steady in a Strong Market
The S&P 500 remains near record highs heading into Q4. For affluent investors, the temptation to time the market can be costly. History shows that ill-timed entries and exits can often lead to underperformance. October is an excellent moment to revisit your investment policy statement and recommit to disciplined, long-term investing.
5. Adapting Portfolios to a Rate-Cut Environment
The Federal Reserve’s September 2025 rate cut was the first of the year, and the first since December 2024, signaling the beginning of an easing cycle. Affluent investors should evaluate:
- Opportunities in longer-duration bonds as yields decline.
- Corporate credit benefits from lower borrowing costs.
- Municipal bonds for continued tax-efficient income.
Portfolio positioning now can help capture the advantages of falling rates while helping manage reinvestment risk.
Final Thought
October is the month when strategy may matter most. Affluent investors who take time to align health care choices, workplace benefits, tax positioning, and portfolio discipline can be better prepared for year-end decisions, and for the opportunities 2026 may bring.
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