Episode 50: 5 Money Tasks to Do Every January in Retirement

Published January 12, 2026

January isn’t just about new calendars and clearing away decorations — it’s the ideal time for a financial check-up in retirement.
In this Money Monday episode, Darren Devine shares five practical money tasks retirees can complete every January to help keep their finances organized, efficient, and aligned with their goals for the year ahead.

Not sure where to start with your January financial checklist?

That’s exactly what annual review meetings are designed for — helping you stay on track without having to figure everything out on your own.

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Related Episodes

If you’re reviewing your finances this January, these other Money Monday episodes may also be helpful:

Episode 49 — New Year, New Budget — How Retirees Can Help Beat “Creeping Costs” — tips for checking your spending as costs rise.
Episode 29 — Keys to a Successful and Secure Retirement — foundational guidance on long-term retirement health.
Episode 26 — RRIF Rules You Should Know— practical rules to refine your withdrawal strategy.

Darren Devine, CFP®, CLU®

Financial Planner, Sun Life
President of Devine and Associates Financial Services Inc.

Think of this as your annual oil change for your finances—five simple tasks every January that can help the rest of your year run smoother.

Hello, and welcome to Money Monday, where we help simplify your financial journey.
I'm Darren Devine, Financial Planner with Sun Life and President of Devine & Associates. I’ve been helping families across Ontario navigate retirement and protect what they’ve built for over 20 years.

When you’re retired, January isn’t just about taking down the decorations—it’s the perfect time for a yearly financial check-up. Here are five money tasks I recommend you do every single January:

  1. Update your net worth snapshot.
    Take stock of what you own and what you owe. Update your investment balances, savings, any remaining debts, and your home value. It’s like stepping on the financial scale—maybe not glamorous, but it keeps you honest and informed.
  2. Confirm your RRIF or LIF withdrawal strategy.
    Make sure your withdrawals for the year are set up in a way that supports your lifestyle and keeps your tax bill as efficient as possible. The goal is steady, reliable income without taking more risk than you need.
  3. Review your insurance coverage.
    Look at your life, health, and any long-term care coverage. Are you over-insured, under-insured, or just right? As your health, age, and goals change, your coverage should be updated too.
  4. Refresh beneficiaries and Powers of Attorney.
    Families evolve. Grandchildren arrive, relationships change, and sadly, sometimes we lose loved ones. January is a great reminder to make sure your beneficiaries and POAs still reflect your wishes.
  5. Book your annual review meeting.
    Even if you don’t love numbers, a focused 60-minute check-in once a year can help you avoid costly mistakes and give you peace of mind for the year ahead.

If you’re not sure where to start with any of these, that’s exactly what a good financial planner is here for—so you don’t have to figure it out alone.

Thanks for tuning into Money Monday. Don’t forget to like and comment for more episodes filled with tips to help make your financial journey a breeze. Until next time, I'm Darren Devine, and you can always talk to us today at DevineAndAssociates.ca!

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These simple steps help you:

  • [ ] Stay organized and informed
  • [ ] Reduce the risk of costly oversights
  • [ ] Ensure your income, protection, and estate plans stay aligned

When done consistently, these tasks provide clarity, peace of mind, and a smoother financial year ahead — without requiring you to love spreadsheets or numbers.