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How Often Do I Need to Review My Retirement Contributions?

Unfortunately, no retirement plan is a “set it and forget it.” Everything, from the smallest personal changes in your life to wide-ranging global impacts, can lead to changes needed to your plan.

On a personal level, it’s important to regularly review and adjust your retirement contributions as your financial situation changes. Did you gain a spouse? Did you lose a spouse? Add some children or grandchildren?

If you receive a raise or pay off a debt, should you increase your contributions to take advantage of the extra income?

If you experience a financial setback, should you decrease your contributions until you get back on track?

Did you move jobs? What should you do with your old 401K? Does it make sense to convert your old rollover IRAs to Roths?

Did you start saving for retirement late, and need a way to try and catch up?

What do you need to do differently as you get closer to retirement?

This is why having the right financial advisor is so important. We can not only help you set up a preliminary retirement plan that is tailored to your individual needs and goals, we can help you modify that plan as your life changes. There are a thousand choices out there – don’t try and navigate the complex world of retirement planning on your own. Call me, and together we can make informed decisions about your contributions and investment choices.

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