Investment plans should not be “set and forgot”. Your plans need to be monitored and adapted to suit your changing needs and circumstances, especially as you progress through retirement and face aged care decisions.

If you have a self-managed superannuation fund, the legislation requires you to review your investment strategy at least once a year. This review should consider more than just the risk levels you are taking and how well investments are performing – it should also include how you draw down on investments to meet your changing needs.