The Importance of an Annual Review

Being fully engaged helps pursue financial objectives.

We find that clients who are most successful at reaching their financial goals are fully engaged in their financial plan and attend an annual review with their Storen Financial advisor. During your review, we will set and evaluate goals, update balance sheets, confirm beneficiaries, discuss any life events, and create strategies aimed at pursuing financial objectives.

Some of the items covered in these reviews include:

Updates due to life events, i.e. marriage, home purchase, birth of a child, divorce, death, inheritance
Updates due to status change, i.e. moving from the accumulation stage to the preservation stage and then to the distribution stage
Update financial account balances — what you owe/ what you own
Update your family binder (What is a family binder? Click here to learn more.)
Confirm that your risk level is still in line with your risk tolerance
Confirm beneficiaries (This is very important!)
Use our advanced planning tools to review goals and assess if they’re still on target
As you move closer to retirement, complete an income gap analysis as well as discuss income distribution strategies
Run a Social Security analysis to discuss when to start taking benefits and how much you will receive monthly
Analyze tax-saving strategies and efficiencies

With the One Big Beautiful Bill, Secure Act 2.0, impending tax increases, market instability, and our current economic environment, an annual review with your Storen Financial advisor is even more crucial. Have more questions about this process? Want to schedule your annual review? Or interested in a consultation? Click here to contact us now.

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