As spring quickly approaches, there’s a natural urge to tidy up—whether it’s clearing out the garage or planting new flowers. But have you considered giving your retirement plan a little spring cleaning? After the first few months of 2025, now’s the perfect time to dust off your financial strategy and make sure it’s still working as hard as you did to build it. Here are five straightforward steps to refresh your retirement plan and keep your financial roadmap on track.
Step 1: Reassess Your Goals
Retirement isn’t static—your dreams and priorities can shift over time. Maybe last year was about settling into a new routine, but now you’re itching to travel or dive into a hobby like golf or gardening. Take a moment to ask: Does my current financial plan still support the lifestyle I want? Look at your budget and savings withdrawals to see if they match your vision for the year ahead. A quick tweak now can ensure your money keeps pace with your plans.
Step 2: Review Tax Strategies
Taxes don’t retire when you do, and staying proactive can save you thousands. With 2025 underway and your 2024 returns already (or nearly) filed, check if your withdrawal strategy still optimizes your income tax situation. Are you taking advantage of lower tax brackets with strategic Roth conversions? If eligible, are you taking advantage of Qualified Charitable Distributions (QCDs)? Are you aware of when your Required Minimum Distributions (RMDs) begin? A little review now—perhaps with a glance at your 2024 returns as a benchmark—can uncover opportunities to keep more of your hard-earned savings.
Step 3: Check Your Investment Allocation
Markets shift, and so should your portfolio. After a few months of 2025, take a look at your investments. Are they still aligned with your risk tolerance? If stocks have advanced, you might be overexposed; if bonds are lagging, your growth could be stalling. Rebalancing doesn’t mean chasing trends—it’s about ensuring your money reflects your comfort level and long-term needs. A well-balanced portfolio is like a well-tended garden: it blooms best with regular care.
Step 4: Update Your Safety Net
Life’s uncertainties don’t take a break, even in retirement. That’s why a solid safety net is non-negotiable. Review your emergency fund—are you comfortable with how long it could last in the event you needed to turn to it? Review your insurances too: Are your health, home, auto, and/or long-term care policies up to date? After winter, it’s smart to confirm these safeguards are ready for whatever 2025 throws your way. Peace of mind is priceless, and a quick tune-up can keep it intact.
Step 5: Confirm Your Legacy Plan
You’ve worked hard to build your nest egg—make sure it passes smoothly to those you care about. Spring is a great time to revisit your estate plan. Are your beneficiaries current? Does your will or trust reflect your latest wishes? Small oversights—like an outdated document—can create big headaches later. A few minutes now can ensure your legacy unfolds exactly as you intend, giving you confidence that your family’s future is secure.
Your Next Move
Spring cleaning your retirement plan doesn’t have to be overwhelming. These five steps are about taking control—making sure your finances reflect your life today and tomorrow. But you don’t have to do it alone. Sitting down with a fiduciary, CERTIFIED FINANCIAL PLANNER® practitioner can turn this checklist into a personalized action plan, tailored to your unique goals and circumstances.
Ready to refresh your retirement roadmap? Let’s talk. At JGR Financial Solutions, we’re here to help you navigate every season of retirement with clarity and confidence. Schedule a conversation today, and let’s make 2025 your strongest financial year yet.
