Mid-Year Check-In: Reassess Financial Plans Amidst Life Changes
Beau Pollard

As we find ourselves already halfway through 2025, it's astonishing how quickly time flies. With the mid-year mark upon us, it's a wonderful opportunity to pause and reassess our financial plans. Life is unpredictable, and major events can significantly impact our financial strategies. Now is the perfect time to take stock and ensure you are on track.

Reflect on the changes that have occurred in your life so far in 2025. Consider whether these shifts require adjustments to your financial strategy. Let's delve into some common major life events that might necessitate a reassessment.

Family Updates

From marriage to welcoming a new child, or perhaps dealing with health concerns, major family changes can have a profound effect on your finances. These events often require updates to insurance policies and adjustments to your savings plans. Preparing for kids heading to college, for instance, means planning for increased expenses and revisiting your budget.

Career Shifts

Whether you're climbing the corporate ladder or stepping into retirement, career shifts can dramatically affect your income and savings goals. Promotions or job changes require reevaluating your budget and may lead you to adjust investment contributions or update retirement plans. Each of these financial aspects ensures your long-term financial stability amidst changing income levels.

Major Investments

Acquiring property, inheriting assets, or making significant financial moves can reshape your financial landscape. Understanding the tax implications and assessing risk tolerance are crucial when these events occur. It's important to reassess your investment strategies to ensure they align with your new financial realities.

With the challenges and opportunities that major life events bring, maintaining financial clarity is essential. As we continue through 2025, consider consulting a financial professional or taking some time to thoroughly review your financial strategy. These steps can help you make any necessary adjustments and secure your financial future.