By Elisabeth Dawson, Financial Advisor in San Diego
How Often to Connect with Your Financial Advisor – As a financial advisor and the founder of COPIA Wealth Management & Insurance Services and COPIA Wealth Management Advisors Inc., I’ve spent decades helping individuals and families navigate their financial journeys. One thing I’ve learned and share often with my clients is this: your financial plan isn’t set in stone—it’s a living, breathing document that should evolve with you throughout your life.
It’s natural to want a sense of certainty and control when it comes to money. After all, planning helps us feel safe and confident. But life rarely goes exactly as we expect. That’s why flexibility in financial planning is so important—it allows us to respond to change with clarity, not fear.
Let’s dive into why your financial plan should be flexible, how it should adapt to major life changes, and how regular check-ins can help ensure your plan keeps serving you well over time.
Life Changes, and So Should Your Financial Plan
We all experience transitions in life—some planned, others unexpected. Whether it’s getting married, having children, changing careers, starting a business, or preparing for retirement, each shift brings new responsibilities and financial realities.
Marriage or Partnership
When you get married or enter a long-term partnership, combining finances can be both exciting and overwhelming. You’re not just merging bank accounts—you’re blending values, goals, and spending habits. A financial plan created while you were single won’t be able to support this new chapter unless it’s updated to reflect joint goals, shared responsibilities, and new priorities.
I always encourage couples to have honest conversations about money early on. We talk about debt, income, saving styles, and long-term dreams. A flexible financial plan allows room for these discussions and helps couples align financially, not just emotionally.
Growing Your Family
The birth or adoption of a child is one of life’s most joyful events—and one of the most financially impactful. From childcare to education planning to new insurance needs, your financial plan should evolve to ensure you’re protecting your growing family while still planning for your own future.
In my practice, I help families map out realistic savings strategies for college and review life and disability insurance to ensure adequate coverage. It’s not just about dollars—it’s about peace of mind.
Career Transitions
Whether you’re switching careers, starting a new job, or launching your own business, career changes often bring shifts in income, benefits, and financial goals. I’ve worked with clients who’ve taken a leap into entrepreneurship and others who’ve stepped back from full-time work to focus on family or passion projects.
When your income changes, your cash flow plan and savings strategies should change too. A static plan that doesn’t adjust to your new income realities or business expenses can create stress instead of support.
Economic and Market Shifts
Let’s face it—none of us can predict what the markets will do tomorrow, next year, or ten years from now. But we canprepare for uncertainty. That’s why your financial plan should include strategies to help you stay on track during economic downturns, rising inflation, or unexpected expenses.
I regularly stress-test my clients’ financial plans using different market scenarios. We look at “what ifs” so they can feel confident even when things feel uncertain in the world.
Regular Check-Ins Keep Your Plan Alive
Too often, people create a financial plan once and never look at it again. Maybe it’s tucked in a drawer or saved on a computer, but if it isn’t revisited, it can quickly become outdated—and less useful.
Annual Reviews
I recommend reviewing your financial plan at least once a year. This gives us the chance to reflect on what’s changed and adjust as needed. Did your income increase? Did you buy a home? Have your priorities shifted? We take stock and update your plan accordingly.
It’s like going to the doctor for a yearly checkup—you may feel fine, but it’s always wise to check in and catch any potential issues early.
Mid-Year or Life Event Updates
Sometimes, changes happen quickly—a job loss, inheritance, divorce, or sudden health issue. When those moments occur, I encourage my clients to reach out right away. Your financial plan should be nimble enough to respond quickly and effectively.
With each check-in, we can revisit your goals, rebalance investments, adjust insurance, or update your estate plan. These adjustments help your plan stay aligned with your current reality and your vision for the future.
Embracing Flexibility Doesn’t Mean Being Unprepared
Some people hear “flexibility” and think it means being disorganized or unstructured. But in financial planning, flexibility is built on structure. It’s about creating a solid foundation—with room to adjust.
Set Core Goals—but Stay Open
We all have long-term goals—buying a home, sending kids to college, retiring comfortably. A great financial plan outlines a path to these goals, while acknowledging that the path might change.
For example, a client once told me they wanted to retire at 62. We planned for it. But five years later, they found a part-time consulting role they loved and wanted to work until 67. We adjusted the plan, and they felt empowered rather than trapped by their original goal.
Build in Flexibility with Your Investments
Diversification, liquidity, and having a clear risk strategy are all ways we build flexibility into investment portfolios. Life may change—but having the right financial tools in place gives you options and confidence.
We often review things like emergency savings, tax strategies, and investment timelines to ensure you have choices when opportunities or challenges arise.
Working With a Financial Advisor Who Listens
A good financial plan is tailored, thoughtful, and realistic. But more than that, it should reflect you—your goals, your values, and your evolving life.
As your financial advisor, my job isn’t just to crunch numbers. It’s to listen, to understand what’s most important to you, and to help you pivot with purpose when life demands it. The relationship we build is based on trust, communication, and adaptability.
Whether we’re reviewing your retirement income strategy, revisiting your estate plan, or navigating a major life transition, I’m here to help you stay grounded, clear, and confident.
Final Thoughts: Financial Planning as a Journey, Not a Destination
Your financial plan is not a one-time project—it’s a lifelong journey. And like any journey, there will be twists, turns, and detours. The beauty of a living financial plan is that it walks with you, not behind you or ahead of you. It evolves as you do.
If it’s been a while since you looked at your financial plan—or if you’ve never created one—now is a great time to start. Let’s talk about where you are today, where you want to go, and how we can create a plan that grows and adapts with you every step of the way.
Because in the end, flexibility isn’t just a nice-to-have—it’s the key to long-term success.
Warmly,
Elisabeth Dawson
Founder, COPIA Wealth Management & Insurance Services
COPIA Wealth Management Advisors Inc.
CA LIC #0C71264, #0G81294
Investment advice offered through Copia Wealth Management Advisors, Inc.
Copia Wealth Management Advisors, Inc. is a registered investment advisor.