Your Annual Financial Review Checklist:

What to Revisit Each Year

Just like your annual physical keeps your health on track, an annual financial review ensures your money is working as hard as you are.
Life changes quickly — and so do markets, tax laws, and personal goals. That’s why reviewing your financial plan each year is one of the smartest habits you can build.

Here’s a simple checklist to guide your yearly financial checkup.

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1. Review Your Goals

Start by revisiting what matters most.
Are you still on track for the same goals you set last year — retirement, a home purchase, education funding, or travel dreams?
If your priorities have shifted, your plan should shift too. Clear goals help determine how much you need to save, where to invest, and what risks to take.

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2. Evaluate Your Cash Flow

Take a fresh look at your income, spending, and savings habits.
Ask yourself:

• Did your expenses increase this year?
• Are you saving at least 15–20% of your income?
• Do you have an emergency fund with 3–6 months of expenses?

Your cash flow is the foundation of every financial decision — make sure it supports your goals instead of draining them.

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3. Update Your Investment Strategy

Markets evolve, and so should your portfolio.
Check your asset allocation to make sure it still fits your risk tolerance and time horizon.
Rebalance if needed, and review whether your investments align with both your short- and long-term objectives.

Even small adjustments can keep your portfolio performing efficiently.

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4. Review Your Retirement Accounts

Confirm you’re contributing enough to your 401(k), IRA, or other retirement accounts — especially if you received a raise or changed jobs.
Make sure you’re taking advantage of any employer match and consider catch-up contributions if you’re over 50.

If you’re already retired, review your withdrawal strategy to stay tax-efficient and sustainable.

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5. Revisit Your Insurance Coverage

Life changes—so should your insurance.
Check your policies for health, life, disability, home, and auto to ensure coverage levels are still appropriate.
Too little protection can be risky, but overpaying for unnecessary coverage can strain your budget.

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6. Update Estate and Beneficiary Information

Confirm that your beneficiaries are current across all accounts and policies.
Also, review your will, power of attorney, and health care directives.
Your estate plan should always reflect your current wishes and family circumstances.

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7. Check Your Tax Strategy

Don’t wait until April to think about taxes.
Look for opportunities to harvest losses, make charitable contributions, or adjust withholdings before year-end.
Strategic tax planning now can reduce surprises — and stress — later.

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The Bottom Line

A yearly financial review isn’t about perfection — it’s about progress.
Small, consistent check-ins keep your finances aligned with your life, helping you adapt confidently as things change.

At Altitude Wealth Management, we help clients conduct these annual reviews to ensure every part of their financial picture — investments, insurance, taxes, and estate planning — works together toward one goal: lasting financial confidence.

Ready to schedule your annual review? Contact our office to reconnect and make sure your plan is still on course.