I do not know about you, but I am excited for warmer weather. The days are getting longer, it is getting warmer outside and the piles of snow are starting to melt. My wife and I are also working on our plans for where we want to vacation this summer.
What would you think if we decided to pack our suitcase now based on the weather report for August and never look at it again? What are the chances that the weather forecast for our week of travel will change between now and August, causing us to regret our packing decisions?
Many people take this approach with their finances. They will set themselves on a course of action, whether it be starting an account to save for retirement, setting up an insurance policy, or having a will drawn up. Once these items are established, they are often never reviewed again. As we all know from 2020, life has a habit of changing our circumstances on us unexpectedly. If we fail to revisit our plans considering our changing circumstances, the results could be disastrous.
Here at Master’s our heart is to help you feel confident in the fact that different areas of your financial plan will be monitored throughout the year in a consistent and proactive manner. This proactive, recurring process will help to ensure that your financial plan remains a current, relevant reflection of your goals and values instead of a stale picture of what your financial “weather report” looked like years before.
Have you ever experienced a situation in which double-checking was worth your while?