Annual Retirement Account Checkup

  |   News Update   |   No comment

Annual Retirement Account Checkup

ProNvest recommends an annual retirement check-up (or as significant changes to finances occur). Here are 4 things to consider for your retirement account as the end of the year approaches.

1. Update your retirement account with any significant financial or lifestyle changes.

Did you have any significant financial or lifestyle changes this year? Now is a good time to update your retirement account if you've experienced any of the following:

Large purchase


Having Children

Pay Raise


Age 50+ (Catch up Contributions)

Back to College



2. Consider the ability to contribute more to your retirement account

Did you receive a raise or downsize your expenses? Consider increasing your contribution amount. When you consistently find opportunities to increase your retirement contributions, it can drastically improve your likelihood of reaching your retirement goals. You may even be able to lower your expected retirement age to enjoy more years in retirement.

3. Get your gap analysis

Our gap analysis illustrates your current retirement balance, your projected savings at retirement and the amount of savings required to last you through your retirement years.



On the graphs, a red area will be shown when you need more than your projected accumulation, and a green area will be shown for when you are expected to have more than your projected need.

Additionally, ProNvest will look at ways for you to increase the likelihood of closing the gap to hit your retirement goal, such as – waiting longer to retire, increasing contributions and spending less in retirement.

ProNvest is pleased to offer a gap analysis to better assist you in reaching your retirement goals.

4. Don't try to time the market

Emotional reactions to the roller-coaster of the market can potentially upend your retirement. It's much more important to focus on your retirement goals than reacting to the ups and downs of the market. That's why ProNvest works for you by monitoring the market on your behalf. We rebalance your portfolio at least quarterly or as market conditions indicate, and we diversify your portfolio to help weather market volatility. The best approach to market volatility is to rebalance investments as needed and then stay the course to your established retirement goals.

Make sure to update your retirement account with any significant financial or lifestyle changes with ProNvest. If you find ways to increase your contribution amount (even a little), you can greatly change the outcome of reaching your retirement goals.

Brought to you by

No Comments

Sorry, the comment form is closed at this time.