Why your financial plan needs a regular check-up

We don’t always love booking in a car service – but we know why we do it. To stay safe. To avoid nasty surprises. To keep things running smoothly.

Your financial plan needs the same kind of attention. And just like with a car, leaving it too long between reviews can lead to breakdowns when you least expect them.

A real-life reminder

Josh and Kate had their first child late last year. Like many new parents, they were focused on adjusting to life with a baby – sleepless nights, new routines, and planning for the future.

But it was a close friend who reminded Josh that becoming a parent changed everything – including their financial responsibilities. He encouraged them to sit down with a financial adviser to review their insurance.

That conversation proved to be essential.

What had changed?

Josh and Kate had taken out life insurance three years earlier, back when they bought their first home. Their cover amount was $250,000 – just enough to clear the mortgage if something happened.

But with a child now in the picture, that number no longer reflected their real-world needs.

Their adviser recommended increasing their cover to $750,000. Josh was shocked at first. But then the plan was broken down clearly:

• $400,000 would replace Josh’s income over time, allowing Kate to care for their son or return to work with help from a nanny.
• The remainder could be invested to support their child’s future education – a goal they’d already been saving toward and didn’t want to lose sight of.

A plan that fits your life – not just your loan

This one conversation gave Josh and Kate peace of mind. They knew they weren’t just covered for the mortgage – they were covered for life as it actually looked now.

That’s what a regular review offers: the opportunity to make sure your financial protections still fit your real-life circumstances.

Has your situation changed?

A new child, a new job, a home purchase, a business launch – these events all signal a need to revisit your financial plan.

A quick check-in can make sure your cover levels are still right, your goals are still achievable, and your family won’t be left exposed if the unexpected happens.

Let’s make sure your plan still works for you

If it’s been a while since your last financial review – or if life has shifted – now’s the time to act.

We can help you revisit your insurance, rethink your goals, and fine-tune your plan so it reflects where you are now (and where you’re headed next).

Reach out to book a review. It could make all the difference.