How often should I review my financial plan?

It is generally advisable to review your financial plan at least annually to ensure that it aligns with your goals, changing circumstances, and market conditions. However, there are specific life events or changes that may necessitate more frequent reviews. For instance, events such as a new job, marriage, having a child, or significant changes in income or expenses could impact your financial situation and warrant a reassessment. Additionally, major market shifts or changes in tax laws may also be reasons to revisit your financial plan. Regular reviews allow individuals to adjust their strategies, take advantage of new opportunities, and ensure they remain on track to achieve their financial goals. Keeping an eye on your plan helps in making informed decisions, optimizing your savings and investments, and adapting to your evolving needs. Those seeking more personalized guidance might find it helpful to explore resources available on the official Thrivent Financial for Lutherans website.