5 Times to Revisit Your Retirement Plan

There's a tendency to see your retirement plan as a static document -- a map that you follow throughout your working life leading you toward the finish line. But maps can become outdated, and so can your retirement plan. You have to update it periodically to ensure that it's still in alignment with your shifting goals, savings, and priorities. Here are five times you should review it and consider updates.

With a new job comes a new retirement plan, new investment options, and possibly a new 401(k) match. All of these can affect how easy it is to save for retirement. A greater 401(k) match may reduce the amount you have to put away on your own, while higher fees could eat into your growth, forcing you to save even more to overcome this loss. Your new job may also have restrictions on when you're eligible to participate in the 401(k), and you might have to save on your own in an IRA during the interim.

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Source Fool.com