Skip to main content

Is Your Retirement Plan Still Aligned With Your Needs?

Your retirement plan may have been solid when you first created it—but life changes, markets shift, and your needs evolve. What worked five or ten years ago might not be the best fit today.

Too often, people set a plan and never revisit it. But retirement isn’t static—it’s a series of life phases, each with its own priorities, risks, and opportunities.

Here are four key questions to help assess whether your current retirement plan still supports the life you want now—and in the years ahead:

Are Your Income Sources Still Sufficient and Sustainable?

Retirement income plans need to evolve as expenses shift and markets fluctuate. What once seemed like a comfortable buffer might now feel tight—or too conservative.

Ask yourself:

  • Are your withdrawals keeping pace with inflation and your lifestyle?
  • Are you relying too heavily on one income source (e.g., Social Security or one investment account)?
  • Could a more tax-efficient strategy help your money last longer?

If you haven’t adjusted your income strategy recently, it may be time to optimize.

Are Your Investment Allocations Aligned With Your Risk Tolerance Today?

Your appetite for risk may have changed since you first started investing for retirement. That’s normal. But your portfolio should reflect that shift.

Review your current allocation:

  • Are you overexposed to volatility you’re no longer comfortable with?
  • Or too conservative, risking that your money won’t grow enough to support your goals?
  • Are your investments still aligned with your time horizon and income needs?

The right balance changes over time—your portfolio should too.

Have Your Goals or Priorities Changed?

You may have new goals now that didn’t exist when your original plan was built.

For example:

  • Are you now focused more on legacy or charitable giving?
  • Have healthcare needs become a larger consideration?
  • Do you want more flexibility for travel, family support, or personal projects?

Your retirement plan should reflect your current reality—not an outdated version of it.

Are You Managing Risk Beyond the Market?

Retirement risks go beyond portfolio performance. Healthcare costs, tax law changes, cognitive decline, and longevity all carry financial consequences.

Consider:

  • Do you have a plan for rising medical expenses or long-term care?
  • Have you reviewed beneficiary designations or updated your estate documents?
  • Are you prepared for the possibility of living longer than expected?

Being proactive here protects your finances—and your peace of mind.

The Importance of Regular Reviews

Even a strong retirement plan needs tune-ups. If you haven’t reviewed yours in the last 12–18 months, now’s the perfect time to make sure everything still lines up with your life, goals, and risk profile.

Regular plan reviews help ensure that your retirement strategy continues to serve your evolving needs and provides the flexibility to adapt to life’s changes. Your financial future deserves this ongoing attention and care.

This article is provided for general information and illustration purposes only. Nothing contained in the material constitutes tax advice, legal advice, a recommendation for purchase or sale of any security, or investment advisory services. Please consult a financial planner, accountant, and/or legal counsel for advice specific to your situation.