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.