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Your Guide to Retirement Planning.
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Even the best retirement plan can be destroyed if even one of these life events isn't thought out in advance. When you plan for your retirement, you set goals, plan on how much money you will need, and then work hard to achieve these goals. What if something expected or unexpected happens to veer you off your course? Will you be ready? These five life events could cause you to lose site of your goals but if you realize these things can and possibly will happen at some point in your life, with a little forethought, you will be prepared.

Marriage
If you decide to get married, you and your spouse probably ought to be on the same track with retirement goals. When you're in love, the last thing you want to discuss is retirement, especially if you are young. At some point in your relationship, you will want to discuss your future together and what better time to discuss how you want to spend your golden years than when you are professing your desire to grow old together. If either of you have a company retirement plan, the spouse is to be named beneficiary unless he/she agrees in writing to another beneficiary.

You're in love and planning to get married so this might also be the time to consider your finances. A pre-nuptual agreement might be a good idea or at least a consideration of how your going to combine your money. How will you tie the financial knot when you get married?

Having Children
At some point, you might have children and just the cost alone can put a huge dent in your retirement savings. No doubt you will plan for your children to go to college and at some point might need to make a decision between your retirement goals and the college fund. Careful planning prior to having children can help you make these difficult decisions and still keep your retirement goals.

Once you have children, you might need to make a choice between their college education and your retirement funds. To make an educated decision, it will help to know how much college is likely to cost. Saving for college can take a big chunk out of your retirement savings so with this in mind, do you fund the college education, the retirement or come to some sort of mutual agreement to fund both?

Loss of Income
Loss of income, whether due to job loss, accident, or illness, even for a short period of time, can destroy a retirement savings account unless you have another means of income. Most who have no emergency fund will cash in their retirement accounts in a effort to pay their bills and put food on the table.

As a buffer against the possible of loss of income, your best bet is to have an emergency fund that contains enough money to hold you and your family for at least 6 months.

Divorce
While we never plan for divorce, it does happen and it can be devastating to a retirement plan. Most divorce settlements include company sponsored retirement plans and individual retirement accounts. A good divorce attorney can completely destroy your retirement fund.

When a couple divorces, a spouse could be entitled to half of the other's retirement account. In some instances, a spouse could actually receive the entire retirement account of the other spouse. Unless you are aware of the laws and take action, you could lose your retirement savings when you divorce.

If you are considering a divorce, you should know how a divorce could affect your retirement plan. There are state and federal rules so be sure your legal counsel is well versed on both.

Death of a Spouse
The death of a spouse can have a severe impact on a retirement plan. No one likes to think of death but one should look at what might happen if one or the other should die. When setting up a retirement plan or making a purchase in both names, be sure these are set up so the survivor has full rights. Planning before the fact is much better than losing hard earned money after the fact.

The death of a spouse is probably one of the most devastating life events a person could face. In addition to the emotional factors, there could be a loss of income and additional unexpected expenses. The widow or widower could find it necessary to tap into a retirement account to handle expenses.

We usually don't know when a death will occur but there are some things such as preparing a will and estate plan and organizing your vital papers that can help the spouse in the event of death.

While these aren't the only life events that can affect retirement planning goals, these are the major ones. When planning for your retirement, look at all scenarios to be sure you haven't overlooked something that could destroy your goals.

No matter what your age, a careful review of your finances and having enough money set aside for emergencies makes sense. You should also make sure your will and estate plan are up to date and that your vital papers are at least somewhat organized. If you're married, be aware of the divorce laws that affect a retirement plan. This issue can be a little sensitive but it's important to at least know where to find information if the need should ever arise. Life is full of unexpected happenings but with a little planning, you just might protect yourself or your loved ones from unnecessary heartache.