Do you know the most important factor for reaching financial independence? Your goals! You need to compile the documentation, data, and assets to build your financial freedom plan, and then ensure all those efforts are pointed in the right direction.

The best financial plan isn’t static. Instead, it changes with you as your life changes. Pair a flexible plan with an overarching set of goals as a guide, and that’s a recipe for success! As you work toward your goals, be sure to review your plan at important checkpoints along the way.

In the calm. It’s during the calm times, in between life transitions, that we can zero in on what is important and incorporate that into our plan. This enables you to have a solid idea of your goals and financial plan before major life transitions come along, allowing you to be best prepared. The calm also provides time, energy, and focus to build out or refine your financial goals.

Goals to prioritize. Whenever you’re trying to identify where to focus your attention, what goals to work toward or how to accomplish something, that’s a time to review your financial plan. Compare your goals with your plan, then (re)prioritize each goal based on how it impacts your finances both in the short term as well as over the long haul.

Major life events. This could encompass everything from a marriage or divorce, death of a loved one, job change, or a new baby. Any time there is a major life event or transition, it’s a good idea to review your plan and identify any changes that need to be made.

Have questions. Our role as a trusted financial professional is to ensure you have the guidance and plan to reach your goals, no matter what they are! There will be times you may have questions or feel unsure about some aspect of your plan, whether that’s due to market movement or simply figuring out your path. Taking stock of your plan when you’re feeling unsteady or in a heightened emotional state can reinforce the benefits of taking the strategic, rational course of action.

Annually. At the very least, even in the quietest of times, it’s a good idea to review your plan annually. Life is continuously changing, and it’s important to regularly review your goals, ensure everything is updated and accurate, and make any adjustments necessary. This way, you always have an eye on your goals, and nothing falls by the wayside.

It’s a common misconception that a financial plan means shackling your freedom and lifestyle to an inflexible budget calculator. The best financial plan is aligned to your hopes and dreams and flexible enough to enable greater freedom and peace of mind. Consistently reviewing your plan will help you reach financial independence that much faster. As always, we’re here to answer any questions or help with anything you or your family needs. Let’s get started today!