Even the best laid plans for retirement can suffer a setback or even be destroyed if certain major life events aren’t considered as options in the plan. A retirement plan must includes goal setting, plans for finding the money to meet those goals and then working hard to see these goals achieved. What, however, if something unexpected occurs that takes a substantial portion of those funds, or otherwise derails the plans? Will the retirement planner be ready? Here are some things that everyone planning a retirement should anticipate.

The first life event that a retirement plan can be altered by is marriage. When someone is young or even middle aged and in love they just aren’t thinking about retirement. But they should be. It is important that both spouses have similar retirement goals and steps toward that goal. Either’s company or other retirement plan beneficiary should immediately be changed to their spouse.

If the couple is young enough to have children, that cost, if unanticipated, can put a serious financial dent in the retirement money. Children will need food, clothing, medical care and probably college tuition. Planning children carefully can still allow a frugal couple a sound retirement plan.

No one anticipates a divorce of course, but the fact is that’s where sixty percent of marriages end up. Most divorce settlements will involve the divvying up of the retirement plans, IRA’s, 401(k)’s and so forth.

A spouse’s death or ongoing illness can have a severe impact on retirement planning as well. It is very important to set up any retirement plan to indicate the surviving spouse has full rights.

While other life events can alter retirement plans these are the ones that can have the most serious impact on retirement. No one should plan their retirement without thinking about these scenarios.