Why You Should Review Your Retirement Planning Annually – Helpful Advice from the Team at EPG Benefits

The end of the year brings much to anticipate. Besides the holiday season with all its festivities, many companies have their annual insurance renewal period. As you set aside time to look at your medical, vision, and dental insurance coverage, why not also use this opportunity to conduct an annual review of your retirement planning efforts? You may have a 401k that you set up and let run on autopilot, but that may not be the best course of action if you want to reach your retirement goals.

Make some time now before the holiday rush to examine your retirement plan. Remember that you can seek out the assistance of the experienced team at the Executive Planning Group (EPG). We work with you to analyze your unique situation and needs to establish your goals. We then help you stay on task with your retirement planning so you can face your financial future with confidence.

4 Reasons to Conduct an Annual Review of Your Retirement Accounts

When you are in your 20s, retirement seems like some far off destination that you have plenty of time to reach. As you head into your 50s and 60s, that road is much shorter and can leave you feeling stressed about your Golden Years. Here are four reasons you should make it a point to scrutinize your retirement plans every year:

  1. To make sure your investment strategy is on track. Your financial goals will change over the course of time. An annual review allows you to evaluate your priorities and make changes as necessary to stay in line with your goals. You can assess if you are meeting your timeline, risk tolerance, and preferences based on how the market did last year.
  2. To assess if you are efficiently reducing or deferring taxes. It is not about avoiding fees. Instead, it is about making sure you can take advantage of any tax breaks or deferrals.
  3. To ensure you are still protecting your income. Besides your retirement income, you want to protect your family and your current income from unforeseen events. An excellent place to start is with life insurance. Then you can assess long-term, short-term, and other types of coverage.
  4. To preserve all your assets. Your annual retirement planning review is the perfect time for looking at your overall estate planning The laws change quickly, and you need to know you are still on track. This is also a great time to make sure those who need to know where you keep important documents, can find them if the need arises.

Consult an Experienced Retirement Planning Consultant in Jackson, Mississippi

Preserve your peace of mind that you will reach your retirement goals. The experienced team at Executive Planning Group (EPG) is available to help you navigate the world of retirement planning. We talk to you and listen to your needs to help you set realistic goals. Then we set in motion a tailored and integrated approach to help you. Discover the value of our retirement planning services today.

Call 601-982-3000 for more advice on an annual retirement planning review in Jackson, Mississippi.

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