In other words, life happens. That’s why it’s important to meet with your financial planner to see if anything has changed, and if there’s anything that needs to be done to assist with those changes.
The reason it’s important to meet with your planner is that he or she can ask questions and propose situations that you might not even be aware of or think about. A recent example would be how the new tax law affects your situation. Another example would be a child that is going to college, a job change, death, divorce, or 2018 being the year you plan to retire.
A financial planner will be able to provide another set of eyes to your situation to perhaps think of things you may not have, or to potentially look at your situation objectively, without any personal bias you may have. An example being hanging onto an investment you fell in love with and don’t want to sell, but the prudent thing to do is to sell. Or, it may mean preventing you from a bad financial decision (bitcoin, or unnecessary debt).
However, life does move pretty fast. We get caught up with our careers, family, friends, among other things. Sometimes we tend to be reactive, rather than proactive. That is, we usually think about things only when they need to be taken care of, or after something has happened.
That’s why it’s good to periodically meet with your financial planner. And if you don’t have one, consider meeting with a few and finding one that works well with you and your situation. Even if you think you don’t need any help or your situation hasn’t changed, a financial planner may be able to see something you don’t. And if you’re concerned about a planner creating an artificial need or overselling you, find a fiduciary. They’re legally required to educate you and tell you whether or not you have an issue that needs to be addressed.