PUT YOUR FINANCIAL HOUSE IN ORDER
10 CHOICES | 2013 SPRING ISSUE
SPRING CLEANING
PUT YOUR FINANCIAL HOUSE IN ORDER
s you file away your a forms and tax schedules or pile them all back into the box at the end of the tax season , it ’ s a good time to take a closer look at the big picture of your financial structure and maybe make some alterations or congratulate yourself on a job well done . Either way , following are some ideas of key considerations to help you get started .
Lay a Balanced Investment Groundwork
As with many situations in life , it is all about the balance , including your investments . Does your current asset allocation -- the mix of stocks , bonds , mutual funds , Exchange Traded Funds , Commodities and Certificate of Deposits , in your investment portfolio -- still match the risk your willing to take and your time horizon ? What seemed appropriate five years ago may not be the same . Stock market performance over the past few years has altered the value of your investment holdings either above or below the level you had originally intended . If so , consider rebalancing , either by selling some of the losers , adding to the winners , increase or decrease bond investments . Sometimes , it is a learning experience and a cost savings to explore the differences between investments such as a traditional mutual fund verses an exchange traded fund with similar objectives .
Create a Nest for the Future
Rather than just hoping you ’ ll have enough for a comfortable retirement , take some time to calculate how much you ’ ll need -- and how much you ’ ll need to save . If you ’ re not sure how to do that , I can help you or your current financial advisor should be able to help you establish a realistic accumulation goal and ensure that you ’ re on course to reach it .