Financial Planning Checklist.

Financial Planning Checklist.

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 priorities that should be reviewed regularly.

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
  • Unregistered 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?

Your financial advisor is here to help 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. Let’s talk about what is most important to you right now.

12 thoughts on “Financial Planning Checklist.

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