Saving for retirement

Reviewing your plan

You should meet with your advisor regularly for a formal update on your financial situation and to make sure your goals and assumptions are still appropriate.

Young couple meeting with their financial advisor

Review meeting

Here are some ideas to help you get the most out of a review meeting:

  • Bring important information, such as your most recent tax return and assessment, investment statements and other relevant financial documents.
  • Make a list of the items you want to discuss. Use the Annual review discussion checklist to help prepare for the meeting.
  • Review the notes from your last meeting. Keeping copies of your Financial snapshot and your Financial priority planner is also recommended. Revisiting these at least yearly is an important part of staying on track.
Financial advisor with tablet pc and chart papers

Other reasons to revisit your plan

Sudden and unexpected changes can occur that will affect your lifestyle and financial needs. You should inform your advisor when any of these occur:

  • changes to your employment status, income, tax situation
  • changes in your family situation – marriage, children, separation, divorce, death of a partner
  • receipt of an inheritance
  • deterioration in your health

Always consult your advisor before making changes to your retirement savings plan. Your advisor can help you explore all the alternatives to meet immediate needs and still keep your retirement plan on track.