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By Dave Braze (TMF Pixy) and Rob Bennett

If we've done our jobs (and you've done your homework!) the first 11 lessons in this seminar should have enabled you to construct your own retirement plan based on the date you want to retire and the goals you've created. And now you should know how you're going to achieve those goals. Congratulations, Fool! Can you hear the strains of "Pomp and Circumstance" in the background? You've graduated from The Motley Fool's Roadmap to Retirement seminar. Sit back, relax, and wait for the good times to roll, because your job is done.

Or is it?

Er... not quite. A plan is meaningless unless we act on it. A roadmap doesn't help you unless you actually get out there and drive. Meanwhile, outside influences over which we have absolutely no control (for singles -- love! For couples -- more kids?!) could easily wreck our carefully laid plans. When that happens, we must go back to our operating instructions -- the plan itself -- to see what went wrong.

Fortunately, our plan is in writing (and not carved in stone). That means we can go back at any point in time to see what we said we would do, in order to determine if we're keeping to the schedule. That's called plan review.

Year In, Year Out
Retirement planning is a dynamic process, not a static solution. Because the process is ongoing, we must take a look at what's happening in our financial and personal lives on a regular basis. While some folks may desire to do so more frequently, once a year is usually sufficient to stay on track. And the first step in the process is to complete updated Net Worth and Cash Flow Statements. When completed, the statements should be compared to those of the year before to note relevant changes.

« Lesson 11 Quiz

Playing With Your Plan »