Your Retirement Plan Needs a Reality Check Before July

You checked your 401(k) balance in January and felt pretty good. But now it’s almost July — and things feel different.

Maybe that spring trip to visit the grandkids ran over budget. Maybe prescription costs went up again. Maybe you’ve just noticed that the monthly income you once felt confident about doesn’t stretch quite as far as it used to.

Sound familiar? You’re not alone.

Many retirees assume their biggest financial decisions are behind them once they stop working. But retirement doesn’t stay still. Markets move. Expenses shift. And life throws curveballs that no spreadsheet can fully prepare you for. The plan that looked solid six months ago might need a few serious adjustments now.

Here’s the good news: mid-year is a great time to course-correct — while there’s still plenty of year left to act. Think of it as a financial tune-up, not an overhaul.

Three Smart Mid-Year Reality Checks

1. Is your money lasting as long as you thought it would?

Six months into retirement, a couple who thought they had their monthly budget dialed in starts noticing things slipping. Their adult daughter needs help with her mortgage. Grocery bills are higher than expected. A few unexpected car repairs show up. Suddenly, they’re consistently spending more than planned — and the gap is growing. Those extra costs weren’t in the original plan, but they’re very real now.

Take an honest look at your spending since January. Are you consistently over budget? That gap between what you planned and what’s actually happening is your early warning system.

Action step: Review your spending year-to-date. If there’s a gap, figure out where the money is going — and whether these are temporary costs or your new reality.

2. Are your investments still right for where you are in life?

Many retirees still have portfolios built for growth — not income. And when you’re living off savings, market drops feel different than they did when you had time to recover.

A lot of retirees keep most of their money in stocks — because that’s what always worked. But now the headlines feel heavier, and every market dip brings a wave of stress. Income isn’t as steady as it used to be, and the ups and downs are starting to wear them down. What once felt smart now feels uncertain.

Action step: Revisit your asset allocation. If your investments are making your income feel unpredictable or creating more stress than stability, it might be time to shift toward steadier, income-generating options.

3. What happens if your health situation changes tomorrow?

Most retirees hope to stay healthy and independent. But hoping isn’t planning. Maybe the budget covered routine doctor visits — but not the cost of help with daily activities, or a spouse’s early memory loss.

That’s when things get real. Long-term care insurance, a healthcare savings strategy, and clear instructions for your family aren’t just paperwork — they’re protection for everything you’ve worked for.

Action step: Have the conversation you’ve been putting off. Update your will. Look into long-term care options. Make sure your spouse knows where the key documents are. These aren’t just chores — they’re the details that protect your future. Don’t wait.

Small Adjustments Now Beat Scrambling Later

You don’t need to overhaul your retirement plan. Just make a few thoughtful, timely adjustments — while you still have the space to act.

That might mean adjusting your investments to create more predictable income. Or finally sitting down with family to set clear financial boundaries. It might be as simple as updating your monthly budget to reflect the way life actually looks today.

The important thing is addressing it now — not scrambling in December when tax deadlines are looming and your flexibility is limited.

Your retirement should support the life you want to live — not the other way around. A mid-year check-in helps ensure that’s still the case.

With a few smart, thoughtful adjustments, you can stay confident and on track for the retirement you truly want.

Ready to make sure your retirement plan still fits your real life?

Call Barb Swiatek at 719.597.2179 to schedule your mid-year retirement review. A few smart moves today can make the next phase of retirement a lot smoother.