Summerlin Benefits Consulting Q&AAnswer
Nov 27, 2024 - 10:59 AM
Assessing your retirement plan, even if you're several years away from retiring, is essential because it allows you to evaluate whether your current savings and investment strategies align with your long-term financial goals. Starting this process early gives you time to adjust contributions, take advantage of compound interest, and optimize investment growth. It also helps you adapt to changes in your life circumstances, such as income fluctuations or unexpected expenses, ensuring your plan remains on track. Additionally, reviewing your plan regularly allows you to leverage employer-sponsored benefits like matching contributions or explore alternative retirement savings options if your employer doesn’t offer a plan. Ultimately, early assessments reduce financial stress by providing confidence that you’re making steady progress toward a secure and comfortable retirement.
