Malibu couples often spend years building their careers, raising families, and enjoying the lifestyle this coastal community is known for. The ocean views, the high-end real estate, and the unique culture make Malibu a special place to live. But that same lifestyle also creates a unique financial picture.

For couples here, retirement planning is not something you finish once and then tuck away in a drawer. A solid plan today might not be the right plan five years from now. That’s why revisiting your retirement strategy every five years is so important.

This review isn’t about overcomplicating things. It’s about making sure your money, investments, and goals stay aligned with your real life.

Life changes in five years

A lot happens in five years. Your children might graduate, move out, or even come back home. Parents may require care. One spouse might sell a business or step back from a demanding career.

These changes directly affect cash flow, savings potential, and retirement timing. If your original retirement plan assumed two full incomes until age 65, but one spouse retires at 60, the math changes. The earlier you catch that, the better prepared you’ll be.

And it’s not just about income. Family priorities evolve too. You might want to set aside more for helping adult children, or perhaps you’ve realized you’d like to dedicate more to philanthropy. These shifts won’t be reflected if your retirement plan is stuck in the past.

Markets never sit still

Markets rise and fall, often in unpredictable cycles. A portfolio built in 2015 would look outdated in 2020 if it never changed. The same holds true today.

Interest rates move. Inflation impacts how far your money stretches. Stock market valuations swing, sometimes quickly. Even bond markets shift with policy changes.

If you don’t revisit your retirement plan, you risk being too aggressive—or too conservative—for your current stage of life. A five-year review keeps your investments balanced and in line with your tolerance for risk.

The tax environment shifts constantly

Tax rules rarely stay the same for long. Retirement accounts, estate planning, capital gains treatment—all of these are subject to new laws.

For high-net-worth couples in Malibu, changes in tax law can have a big impact. California’s state income tax is already among the highest in the country. Combine that with federal rules, and the wrong strategy can mean paying far more than you need to.

A five-year review lets you update your tax approach. That could mean converting part of a traditional IRA to a Roth IRA, rethinking how you structure withdrawals, or planning charitable contributions in a way that also reduces your taxable income.

Real estate is a major factor

In Malibu, real estate often makes up a large share of wealth. Property values move with market demand, environmental factors, and changing regulations.

If your retirement plan assumed your home would be sold for a certain amount, but five years later that value has doubled—or dropped—you need to adjust your expectations.

You may also decide to keep your Malibu property as a legacy asset, passing it to your children. That requires planning for estate taxes, property taxes, and upkeep. Without updating your retirement plan, these details can catch you off guard.

Lifestyle goals evolve

Retirement is not just about numbers—it’s about how you want to live. Maybe in your 40s, you thought you’d want to travel constantly. By your 50s, you may prefer spending more time at home, investing in community, or supporting causes.

Or perhaps it’s the opposite—you now want to spend winters in Palm Springs or summers abroad. These lifestyle shifts affect your spending needs and your savings goals.

By reviewing your plan every five years, you make sure your finances line up with how you actually want to spend your retirement, not how you imagined it a decade ago.

Health and longevity

Healthcare is one of the biggest unknowns in retirement. Costs are rising, and coverage rules are complex. For Malibu couples who want to preserve their standard of living, ignoring health costs can be risky.

A review every five years helps you check whether your insurance coverage, long-term care planning, and health savings strategies are still adequate.

Longevity is another factor. Couples today often live well into their 80s or 90s. That means retirement can last 30 years or more. A plan that seemed to cover 20 years of retirement may not be enough.

Why five years is the right rhythm

Some couples ask why five years is the magic number. Why not every year—or every ten years?

Five years strikes the right balance. It’s long enough that meaningful changes—life events, market shifts, tax law updates—are likely to occur. But it’s short enough to catch potential problems before they become serious.

A yearly review may feel excessive for most couples. But a ten-year gap leaves too much room for outdated assumptions to pile up. Five years keeps you proactive instead of reactive.

What a five-year review should include

Here’s a simple checklist for Malibu couples reviewing their retirement plan:

• Revisit your goals: Are you still on the same page about when and how you want to retire?
• Check your assets and debts: Update balances on all accounts, property, and loans.
• Review investment allocation: Is your portfolio still aligned with your stage of life?
• Update tax strategy: Make sure you’re taking advantage of current rules.
• Plan for healthcare: Adjust for rising costs and check your insurance coverage.
• Estate and legacy planning: Confirm that wills, trusts, and beneficiary designations are current.
• Lifestyle updates: Factor in new priorities like travel, second homes, or philanthropy.

This process doesn’t need to be overwhelming. With the right advisor, it can be structured, efficient, and clear.

Peace of mind and alignment

Ultimately, revisiting your retirement plan every five years isn’t just about numbers. It’s about peace of mind.

Couples in Malibu have complex financial lives. Between property, investments, taxes, and family priorities, it’s easy for things to drift out of sync.

A structured review keeps both spouses aligned. It ensures you’re working toward the same goals and that your plan reflects reality—not just old assumptions.

Final thought

Retirement is not a fixed destination. It’s a moving target shaped by your life, your wealth, and the world around you.

For Malibu couples, with high living costs and complex assets, a retirement plan needs to be flexible. Reviewing it every five years keeps you on track, protects your wealth, and gives you confidence about the future.

The five-year review is not just a financial task. It’s a commitment to staying intentional about how you’ll live the next phase of your life—together.