October isfinancial planning month!
Do you have what you need to feel confident about planning your present & future?
Life changes are an inevitability - make sure you’re adjusting your financial plan accordingly!We’ve put together a checklist to help you determine if your plan is keeping up with your life:
Life changes
- Retirement, new family members, change of residence, job switch, etc.
Overall financial plan updates
- Have you reviewed this year?
Emergency fund (3-6 months expenses)
- Is this accurate & easily accessible?
Insurance policies & coverage
- Are you fully covered? Do updates need to be made?
Outstanding loans & credit
- Are current debts higher than market rates? Do you have a payment plan in place?
Gifts to heirs or charities
- Do you need a strategy for potential tax benefits?
Estate plans & associated legal documents
- Are your documents & intentions up to date?
Key retirement dates & milestones
- Are you hitting one of the key dates for govt. benefits? (50, 55, 59.5, 62, 65, 70.5)
Retirement income plan (if retired or semi-retired)
- Review the status of your planned income