How often do you update your financial plan
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Anonymous
| We had a financial plan done two years ago. Nothing major happened since. Our investments have appreciated a bit more because of the bull market in the last few years. Is there any value in going back and reassessing? |
Anonymous
| We meet twice a year with our financial advisor but rarely make changes to our portfolio or strategy. When we do, it’s because of changing circumstances in life, so unless you’ve had one of those (job promotion with new income stream, a new child, kids switching to private school, one spouse quitting their job, etc.) I wouldnt worry about it too much. |
Anonymous
| No need to change your plan unless there is a big change. Your investments success is not considered a big change. If your investments success has you wanting to change your retirement date, that would be a big change. |
Anonymous
| Mid 40s. Not wealthy, but very comfortable. We meet with our financial advisor once every 5 years (unless we have a change in circumstance). We are on autopilot at this point. |
Anonymous
|
Only when there are bigger life changes.
Last big change was when I stopped working in mid 40s. Next one should be the youngest turning 18 in 6 years. |
Anonymous
| We don't have a financial plan. We both manage our own investments separately. I have a personal investment plan and revisit my allocations every 6 months. |
Anonymous
|
We review it annually with a financial planner, but many years it's just a read through to see if anything has changed. If not, we don't really do anything with it.
The year we paid off the house, there was a conversation about what to do with the extra money each month. The year our oldest child selected his college, we talked about how the actual tuition compared to the range we'd been planning for and if that affected the bigger financial picture. Any changes needed to investment strategy. That kind of thing. |
Anonymous
| Every couple of years we do a thorough update as we are retired and we are very focused on estate planning. |
Anonymous
| What does a financial plan look like? We don't have one. |
Anonymous
| Mid- and late-50s and we meet annually with pur planner, and call and set up meetings when necessary (something changes and we want to discuss). Otherwise, leave it be |