Of course!
Things change, as do investing methods and philosophies. And, even if they don’t change, the economy changes, people change, their health can change and their needs change.
I provide a lot of advice to a lot of people and I have come to realize that every person and situation is different and can change in very unexpected ways. It is not unusual for a client to ask why my advice today is completely different to what I told him five years ago. Things change and we need to be sensitive to those changes. The investment markets today are different from five years ago which was different from five years before then. Someone that entered the stock market in the last ten years saw a different market than if they started in the mid to late 1990s.
Health care costs and availability have changed. Bank saving rates are different. Stock market dividend policies are different as are valuations. Investment management methods and costs are different. College costs, child care, special needs costs, nursing home and assisted living costs, automobile acquisition methods and home mortgage availability are different. Job availability for recent college graduates is different with many remaining at home. Marriage ages are being extended but couples living together and having out of wedlock children are increasing. Things change.
So, it is important to consider that your prior “perfect” investment plan might need changes. And it might not. “Consider” means that you should relook at it. Do it!
