Retirement planning is a long-term process rather than a one-time event.
Reviewing different parts of a retirement plan throughout the year can be more manageable than addressing everything at once.
This guide highlights several activities that individuals may review periodically as part of their broader retirement planning.
Why Planning Throughout the Year Can Be Helpful
Retirement planning includes reviewing goals, account information, personal records, and changing life circumstances.
Breaking these activities into smaller check-ins throughout the year may help individuals:
- Stay organized
- Review important information regularly
- Identify questions that arise over time
- Keep retirement planning goals current
- Build consistent planning habits
Each person’s schedule and priorities may be different, so retirement planning calendars vary based on individual needs.
Review Beneficiary Information
Beneficiary information can be reviewed periodically, especially after major life events.
A beneficiary review may include:
- Confirming current beneficiary information
- Reviewing retirement accounts and insurance policies
- Updating records when appropriate
- Checking account information for accuracy
Beneficiary options and account rules may vary by account type and provider.
Review Retirement Account Statements
Retirement account statements may provide information about account activity and balances during a specific period.
Statement details to review periodically include:
- Account balances
- Contribution activity
- Personal account information
- Beneficiary information (when available)
- Questions they may want to discuss with their account provider
Regular statement reviews may help individuals stay familiar with their retirement accounts.
Review Your Retirement Budget
Financial priorities and expenses may change throughout the year.
Budget topics to review periodically include:
- Monthly expenses
- Savings progress
- Lifestyle goals
- Spending patterns
- Retirement planning priorities
Regular budget reviews may help individuals better understand how changing circumstances fit into their overall retirement planning.
Review Healthcare Considerations
Healthcare planning can become an important part of retirement planning.
Healthcare topics to review include:
- Healthcare coverage
- Medicare information (if applicable)
- Healthcare expenses
- Provider contact information
- Questions they may want to discuss with qualified professionals
Healthcare needs and priorities can change over time.
Review Retirement Goals
Retirement goals may evolve throughout different stages of life.
Periodic goal reviews may include thinking about:
- Desired retirement timing
- Lifestyle goals
- Family priorities
- Travel plans
- Volunteer opportunities
- Long-term planning objective
Reviewing goals periodically may help ensure retirement planning continues to reflect current priorities.
Retirement Plans May Change Over Time
Life events such as career changes, family milestones, health considerations, or personal priorities may influence retirement planning.
Regular reviews allow different parts of a retirement plan to be updated as circumstances evolve.
There is no single schedule that works for everyone; a retirement planning calendar should reflect individual needs and preferences.
Exercise: My Retirement Planning Calendar
Take a few minutes to think about how you currently review your retirement plan throughout the year.
You might consider:
- When will I review my retirement goals?
- When will I review my retirement account statements?
- When will I be able to review my beneficiary information?
- When will I review my retirement budget?
- When will I review healthcare-related information?
- What retirement planning topics would I like to learn more about this year?
Creating a simple review schedule may help keep retirement planning organized throughout the year.
Using Tools & Resources
Educational resources can help organize retirement planning activities throughout the year.
The Benefit Reviews Retirement Road Map provides educational resources to support broader retirement-planning discussions.
Bring it Together
Retirement planning can involve reviewing different parts of a plan over time rather than all at once.
Creating a retirement planning calendar may help individuals stay organized, review important information periodically, and identify questions that arise throughout the year.
Because retirement planning is personal, each calendar may reflect different goals, priorities, and life circumstances.
Final Exercise: My Retirement Planning Summary
Summarize your current thoughts:
- Areas I want to review this year:
- My retirement planning priorities:
- Questions I still have:
- Topics I want to learn more about:
- My next retirement planning check-in:
This summary can serve as a helpful reference point as you continue reviewing your retirement planning throughout the year.
Continue Exploring Retirement Planning Topics
Retirement planning is an ongoing process that includes reviewing goals, account information, healthcare considerations, and personal priorities over time.
To explore additional retirement planning topics, visit the Benefit Reviews Retirement Road Map.
The Retirement Road Map provides educational resources designed to help individuals better understand retirement planning considerations at different stages of the process.
Disclaimer This content is provided for general educational purposes only and is not legal, tax, or investment advice. Please consult your own attorney, tax advisor, or financial professional regarding your specific situation and retirement planning needs.
