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Being fully engaged helps pursue financial objectives

We find that clients who are most successful at reaching their personal financial goals, are fully engaged in their financial plan and attend an annual financial review with their Storen Financial advisor. During the review, we will set and review goals, update balance sheets, confirm beneficiaries, discuss any life events and create strategies aimed to pursue 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 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!)
  • Review goals and assess if still on target
  • As you move closer to retirement … complete income gap analysis; discuss when to start Social Security benefits & income distribution strategies
  • Analyze tax saving strategies & efficiencies

With the Secure Act and other legislative changes, 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.

Click here to learn more about our Financial Planning and Investment services.


Blog by Greg Storen, MBA – Advisory Services Director, Senior Tax Professional

Learn more about Greg and the rest of the Storen Financial team here.