![]() ![]() It’s fairly basic but still useful to get you started. You may have recently lost a spouse or domestic partner, welcomed new grandchildren into your life or moved to a different state, all of which can impact your financial plan. So here is a simple Personal Financial Goal Planning Worksheet. Changes in your personal or family situation.Recognizing these changes gives you the opportunity to make necessary adjustments. Results that are significantly different than expected can reduce the effectiveness of your plan. If so, you may need to make adjustments to the accounts that are currently providing income. ![]() You may have started to receive Social Security payments or required minimum distributions (RMDs) from retirement accounts. Managing personal finances remains a top concern for DON personnel and family members. Your risk tolerance may change at this time, which would affect your asset allocation. Personal Financial Management (PFM) Education, Training, & Counseling Program. If you've recently retired, you may need a new strategy to help maximize your retirement income. Your annual financial review checklist: What to look for For example, capital gains rates or holding periods could rise or fall, or retirement plan contribution rules could shift. Changes in tax laws could affect your portfolio for better or worse. Your income may have increased or decreased, your retirement plans may have changed, or your portfolio may need modification. Even if your portfolio has remained the same, your situation may have changed. If the value of one of your assets grows substantially, it may make up a large portion of your portfolio, reducing your level of diversification and increasing your risk.
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