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.