4 Reasons to Revisit Your Plan

1.Your Personal Situation Has Changed

Have a new baby? You may want to open a Registered Education Savings Plan (RESP) soon. Recently married? Income splitting strategies could help the two of you pay less taxes. Milestones like these are the perfect time to strategize with your financial planner.

2.Your Finances Have Changed

A divorce, job loss, extended disability or serious illness are all good reasons to revisit your plan. A financial planner can help you with the decisions you need to make and look for opportunities to maximize your cash flow.

See Protecting Myself Financially in a Divorce
See Steps to Take After a Job Loss
3.You’re Concerned You Might Not Be Saving Enough

If you’re not on track to meet your savings goals, it makes sense to increase your contributions, right? But what if you aren’t sure where you can pull that money from to boost your contributions? Your financial planner will look at your entire financial picture—debt, cash flow, investments and more—not just your portfolio—to help answer that question.

See What is Financial Planning?
4.Your Portfolio Has Too Much or Too Little Risk

To reach long term goals like retirement, it is important that your savings grow at a faster pace than inflation. By building a diversified portfolio with exposure to all three main asset classes: cash, fixed income and equities, your portfolio can potentially grow at a faster rate than inflation and help build wealth. The portion allocated to each of these categories is completely dependent on personal circumstances and investment goals, and a financial planner can help you figure this out.

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Get Your Plan on Track

Get Your Plan on Track