Use four questions for the annual review
What changed in life?
Retirement date, work, household, health, housing, support responsibilities or a major one-time event.
What changed in cash flow?
Actual spending, benefits, pensions, work income, withdrawals and expected start dates.
What changed in savings and investments?
Dated balances, portfolio mix, fees and whether the portfolio still matches the working plan.
What decision is needed now?
Keep the plan, update changed facts, test one temporary alternative or record a follow-up date.
Three different check-ins
Match the review to what happened.
Record a dated balance or cash-flow change and notice what needs attention.
Update the full set of changed facts, confirm assumptions and choose the next review date.
Review sooner when work, health, housing, household, income or a major expense changes the plan.
Observe markets without making them the whole review.
A current portfolio value is a dated fact. Compare it with the working plan and the portfolio's intended job, but do not treat one headline or one market move as a complete plan decision. Review the portfolio without reacting to headlines.
Bring useful records—not secrets.
- recent benefit, pension and account statements;
- updated monthly spending and income totals;
- a dated portfolio balance and current investment mix;
- known changes to work, housing, health or family support; and
- the working plan and the decisions that still need follow-up.
Do not place passwords, access codes, a social insurance number, full account numbers or complete legal documents in planning notes. See which retirement documents may be useful.
Related questions
A few useful follow-ups.
Does a yearly review prove that my plan is on track?
No. It updates the illustration and identifies decisions. Results still depend on assumptions, uncertainty and facts the site may not know.
Do I need to change the plan after every market decline?
No. Record the dated fact, check whether life, spending, income, horizon or portfolio purpose changed, then decide deliberately.
What if nothing important changed?
Confirm the current facts and assumptions, keep the working plan explicitly and set the next review date.
Explore it in your plan
Review and adjust the working plan.
The route returns to Your Plan when a working plan exists. Without one, it leads safely to the compatible starting state rather than implying that opening this article created a plan.
Official sources
These sources were reviewed August 17, 2026. Program rules and tax treatment can change; confirm the information that applies when acting.
- FCAC: Your retirement financial checklist (opens in a new tab)
- FCAC: Making a budget (opens in a new tab)
Retired Kevin is not affiliated with or endorsed by these organizations.