Whether we want to acknowledge it or not, the start of the ubiquitous “back to school” sale at your favorite retail store is a sign of the forthcoming end of summer. This annual ritual provides a great reminder to plan for the rest of this year, and start thinking about next year. Regardless if you are getting kids ready for another school year you are no doubt familiar with the change in routine that comes when school is back in session.
Summer is often a time of major life changes, be it marriage, children, moving, or retirement. If you experienced a life event over the summer adjustments to previous plans are needed. Do you have a new child? Perhaps a 529 plan or a change in life insurance is called for. Has your number of family members changed? Perhaps a change in beneficiaries or coverage is needed. Did you acquire additional property? Perhaps a review of ownership, value, and coverage is required. Did you begin to think more seriously about a job/career change? Perhaps a review of your portfolio will provide more clarity.
The autumn months are a common time period for enrollment in employer sponsored retirement and benefit plans. This is a good time to think about this year’s selections as well as review your entire portfolio so proper adjustments are made. People occasionally mention that they had meant to make these changes but were side tracked with different life events.
Life events increase during these waning summer days and that momentum continues throughout the fall. That is why it is important to not only have a thorough plan, but some accountability to that plan. So give us a call, or have your friends give us a call, because as fiduciaries we share the accountability. After all, we are dedicated to assisting you create more enjoyable moments that span generations.