Life changes, and your retirement plans may need to change too - taking time to review your goals can help ensure your retirement continues to work for you.

Retirement isn't a fixed destination. What you want from retirement today may look very different from what you imagined a few years ago.

Life has a habit of changing plans. Maybe you've changed jobs, paid off your mortgage, started helping family members financially, experienced a health change, or simply begun to think differently about how you'd like to spend your time.

That's why it's worth checking in on your retirement goals from time to time. The important thing to remember is that there is no single "right" way to retire. Your retirement should reflect what's important to you.

Your retirement strategy may need to evolve too

When your goals change, it's worth reviewing some of the building blocks that can shape your retirement, including:

• Your super balance and contribution strategy
• Your investment option(s)
• Your insurance cover
• Your planned retirement age
• The income you’ll need in retirement

A simple review can help you understand whether your current approach still supports the lifestyle you're working towards. Retirement planning can be daunting, but it doesn’t have to be. We put together these 5 retirement planning steps to help you get started.

It can also be a good opportunity to ask yourself:

• Am I contributing enough to support my retirement goals?
• Is my current investment option still right for me?
• Does my insurance cover still meet my needs?
• Have I nominated a binding beneficiary?
• Do I have a clear understanding of how much income I may need in retirement?

Reviewing your super doesn't necessarily mean making major changes. Often, it's simply about making sure decisions you've made in the past still support the life you want in the future.

Can a different strategy help?

As you move closer to retirement, you may find that strategies that weren't relevant a few years ago now become worth exploring.

It's worth considering whether there are opportunities to boost your retirement savings in your final working years leading up to retirement. Depending on your circumstances, making additional contributions to your super can help increase the amount you have available when you stop working.

Other changes in your goals may prompt you to review your retirement timeframe, explore different contribution strategies, or rethink the balance between enjoying life today and preparing for tomorrow.

Want to learn more? Read our article on smart ways to grow your super as you approach retirement.

The good news? Your plan can change with you

It's easy to think of retirement planning as something you set and forget. But for most people, retirement is a moving target.

Moneysmart’s Retirement Calculator can help you understand where you're at today and explore the steps you might take towards the retirement lifestyle you're aiming for. If your retirement goals have changed, it can be helpful to understand what those changes might mean for your future.

If you'd like more personalised support, a financial adviser or one of our Financial Coaches can help you navigate your options and develop a plan tailored to your circumstances.

Need help understanding your options?

If you're unsure about any aspect of your super, you don't have to work it out alone.

Financial coaching can help you better understand your super and the choices available to you, giving you greater confidence about your retirement journey.

Book a financial coaching appointment today

Because retirement isn’t about sticking to a plan you created years ago. It’s about making sure your plans continue to reflect the life you want to live.