By Kevin Campbell, Wealth Advisor & Founder of Peaks Financial, Host of Kitsap Matters Podcast, Author of Fearless: Charting Your Course to Financial Independence
It’s August in Kitsap County—aka the few glorious weeks when nobody asks about the weather and we all remember why we live here. But while you’re savoring those sunny weekends (or pretending to enjoy yardwork), it’s also a perfect time for a financial check-up. Think of it as your fiscal sunscreen: a little prevention now saves a lot of pain later.
Why a Mid-Year Review?
Just like annual wellness visits keep you out of the ER, a mid-year financial review can prevent year-end surprises. The reality is, financial plans aren’t “set and forget.” Life changes, markets shift, and tax rules get creative—sometimes faster than my lawn turns brown in July.
The SAIL FORMula: Four Anchors of Financial Health
At Peaks Financial, we guide clients through the SAIL FORMula—think of it as the four pillars that keep your financial house afloat:
- S: Strategy (Investment, tax, and planning)
- A: Asset Allocation (How your investments are divided up)
- I: Income (What’s coming in, and where it’s going)
- L: Legacy (What you want to leave behind—values, assets, or both)
Let’s chart your August money check-in using each step:
1. Strategy: Are You Still On Course?
Maybe you set bold goals in January after too much holiday eggnog—paying off debt, maxing out retirement plans, or buying a boat (which I hear is just a hole in the water you throw money into). Review those goals now. Are they still relevant? Have you had any life or business changes that require a strategy update—new hires, business growth, or a surprise tax bill? Adjust your strategy to fit your current reality, not last year’s wish list.
2. Asset Allocation: Are You Balanced?
This is financial jargon for “don’t put all your eggs in one basket.” Has your portfolio drifted as markets bounced around? Are you still comfortable with your risk level, or did this year’s volatility make you rethink things? Rebalancing isn’t glamorous, but it’s the difference between “smart investor” and “accidental gambler.” Remember, chasing last quarter’s hot stock rarely ends well.
3. Income: Cash Flow and Tax Planning
Check in on your income—both what’s coming in and what’s sneaking out. Are you making the most of employer plans, IRAs, or business owner deductions? For business owners, the IRS keeps tweaking rules around deductions and reporting—especially with 1099-K changes and R&D credit updates in the headlines this year. Make sure you’re on top of estimated taxes and any local business tax quirks. On the personal side: adjust withholding if you had a big life event, and double-check your budget for “subscription creep” (that’s not a Netflix documentary).
4. Legacy: Are You Building—or Forgetting—Your Legacy?
Estate plans aren’t just for the ultra-wealthy. Has anything changed in your family or business this year? Review beneficiaries, wills, and business succession plans. In Kitsap, we’re seeing more folks use trusts to manage privacy and probate issues, especially as property values rise. And yes, now is a good time to make sure your ex-brother-in-law is not still your life insurance beneficiary. (You’d be surprised.)
Local Trends and Timely Tips
Locally, Kitsap’s business community is still growing, even as higher interest rates and inflation keep everyone on their toes. If you own commercial property or have business loans, review your interest rates and cash reserves. Don’t let rising costs or labor shortages catch you flat-footed—plan ahead, even if it means revisiting contracts or supply agreements.
And for everyone: don’t let headlines spook you into impulsive money moves. Markets will move, taxes will change, and someone on TV will always predict doom. Stick to your plan, adjust thoughtfully, and check in at least twice a year.
Final Thought
A mid-year check-in doesn’t have to be a deep dive. Block out an hour, grab your statements, and walk through SAIL. Your future self—and maybe your CPA—will thank you. Enjoy the rest of the Kitsap summer. You’ve earned it.
Kevin Campbell is an Investment Advisor Representative of, and advisory services are offered through USA Financial Securities, A Registered Investment Advisor located at 6020 E. Fulton St., Ada, MI 49301. Peaks Financial is not affiliated with USA Financial Securities. For specific estate planning or tax advice, please consult a qualified estate planning attorney or tax advisor/CPA.
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