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It is always a good day to review your financial plan! Knowing what you have and haven’t accomplished is vital to reaching both your long and short-term goals. Below is a list of financial planning priorities that should be reviewed regularly.

What You Need to Know

Insurance

• Did you buy a new house?
• Did you have a baby or add to your family?
• Did you get married?
• Did you take on new debt?
• Did you get a new job or have a change in income?
• Did you experience a marriage breakdown or divorce?

Liabilities (new or changed)

• Mortgage
• Business Loan
• Student Loan
• Line of Credit
• Credit Card Debt
• Car Loan
• Any other liabilities?

Assets (new or changed)

• Art
• Jewelry
• Cash
• Real Estate
• Land
• Stocks
• Bond
• Life Insurance Policies

Short Term Goals (New or Changed)

• Save for a House
• Save for Vacation
• Pay off High Interest Debt
• Start Emergency Fund
• Major House Repair or Renovation

Long Term Goals

• Retirement Dates
• Education Savings
• Mortgage Elimination

Investments

• Adjusting Risk Tolerance
• Reviewing Asset Allocation
• Savings Strategies
• TFSA
• RRSP
• RESP
• RDSP
• Un-Registered Accounts

Accounting for Big Changes

• Did You Move?
• Did You Sell Major Assets?
• Did You Change Jobs?
• Did You Take on More Debt?
• Did Your Family Grow?
• Did You Lose a Loved One?
• Is There a Critical Illness in the Family?
• Did You Receive a Gift or Inheritance?
• Was Someone in Your Family Diagnosed with a Disability?

The Bottom Line

Your advisor is here to help you and guide you through each step of the financial planning process. The above list should be used as a starting point to address basic financial planning needs.

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