November Topic of the Month: Why Do I Need an Annual Review with My Financial Professional?

Kevin Orsinger |

The end of the year is busy with holiday planning, work tasks, and home tasks that require a lot of your time and attention. You have parties to attend, cards to mail, gifts to buy, and the list goes on. Adding yet another meeting to your schedule can feel overwhelming, but you should make sure you do not skip an annual review with your financial professional for many reasons. While you can often rely on that professional to manage your portfolio throughout the year, checking in at least annually will help make sure that your goals are always adapting to your needs and that you’re on track to achieve them.

Why every year? Well, it’s simple. Life changes, and it changes a lot. Across a year, you might experience major life events such as marriage, divorce, or childbirth. You might undergo a career change, resulting in higher—or lower—income. You might develop new goals: perhaps you’ve decided that you want to save for a major trip or purchase a new home. You, of course, will have conversations about these things with your family, but your financial expert is prepared to help make sure your goals are attainable and aligned with your situation.

What should you talk about? The first thing you should do is review your existing goals. Do you need to make any modification to your plan or are you on track? Have those goals changed in any way, or should they, based on how your life and situation have evolved? You can review your assets, your debts, your emergency plan, any insurance policies, your beneficiaries, and so on. Your financial professional will tailor this review to your situation, but you should be prepared to ask any questions you have.

Each annual review will look different based on your needs, goals, and financial situation. Ensuring this meeting doesn’t get pushed from the schedule because of how busy you are at the end of the year is so important for a successful financial plan. Call Orsinger Investment Group, Inc. at (724)588-9067 today to schedule your annual review and make sure you’re ready to start 2022 off on the right foot.