https://timetoplay.com/wp-content/uploads/2019/02/TIME-TO-PLAY-LOGO-resources.png 0 0 Brian White https://timetoplay.com/wp-content/uploads/2019/02/TIME-TO-PLAY-LOGO-resources.png Brian White2013-07-24 05:49:182013-07-24 05:49:18Staying on track
Staying on track
The financial planning process doesn’t end once your initial plan has been created. Your plan should generally be reviewed at least once a year to make sure that it’s up-to-date. It’s also possible that you’ll need to modify your plan due to changes in your personal circumstances or the economy. Here are some of the events that might trigger a review of your financial plan:
- Your goals or time horizons change
- You experience a life-changing event such as marriage, the birth of a child, health problems, or a job loss
- You have a specific or immediate financial planning need (e.g., drafting a will, managing a distribution from a retirement account, paying long-term care expenses)
- Your income or expenses substantially increase or decrease
- Your portfolio hasn’t performed as expected
- You’re affected by changes to the economy or tax laws
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