The 5 Times When You Should Review Your Financial Plan

Your life isn’t set in stone, and your financial plan shouldn’t be either. When’s the last time you tweaked yours?

Dollar bills on clothes line
(Image credit: Getty Images)

Plans have a tendency to become outdated the moment they’re set down on paper. Once you have a financial plan, don’t let it get stale. You’ll want to review your plan often, even when things in your life don’t seem hectic or eventful — in fact, I’d argue that those are the best times to sit down, give your full attention to your finances, and do a thorough review.

But aside from that, there are other specific triggers in life that tell you it’s time to take a look at your plan, get reacquainted with it, and potentially make changes.


This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

Eric Roberge, Certified Financial Planner (CFP) and Investment Adviser
Founder, Beyond Your Hammock

Eric Roberge, CFP®, is the founder of Beyond Your Hammock, a financial planning firm working in Boston, Massachusetts and virtually across the country. BYH specializes in helping professionals in their 30s and 40s use their money as a tool to enjoy life today while planning responsibly for tomorrow.

Eric has been named one of Investopedia's Top 100 most influential financial advisers since 2017 and is a member of Investment News' 40 Under 40 class of 2016 and Think Advisor's Luminaries class of 2021.