There are many different reasons why professionals like Matthew Dixon, a leading Registered Financial Consultant in Seneca, SC, recommend an annual review of your retirement plan. Small or large changes in income, potential tax savings, and in other areas of life can provide opportunities to increase retirement savings or to adjust the retirement plan.
Change in Relationships
Divorce or marriage are two important times to meet with Matthew Dixon and consider your retirement plans. Most individuals find that divorce or marriage has a dramatic impact on both short-term and long-term financial planning as well as the current expenses and costs.
Adjusting for these changes as quickly as possible allows the individual or the couple to increase the money they invest or to make changes to the retirement plan to reflect current goals.
Changing Health Care Needs
One factor that is difficult for younger investors in Seneca, SC, is the costs involved with aging. As people get older, meeting with Matthew Dixon and discussing current and potential health care needs provides full insight into the options available to protect your investments in the event of a major or minor health concern.
Changes in Income
Individuals may choose to step down work into retirement as they get older. There can also be issues with loss of employment or health restrictions that limit the ability to work. If there is any change in income, adjusting the retirement, talking with your financial consultant is an important step.
