Is it time for a portfolio checkup?
Your personal health is important to you. That’s why you have periodic checkups, follow your doctor’s recommendations on diet and exercise, and take your medications. Your financial health is also important. That’s why you should periodically perform a portfolio checkup to ensure you are financially healthy and on track to achieving your goals.
Two good reasons to get a portfolio checkup:
- The value of each investment in your portfolio will change over time. By periodically rebalancing your portfolio, you’ll get it back on track to reaching your financial goals.
- Your financial situation and goals change over time – and that means your portfolio probably needs to be adjusted to meet your evolving needs.
When should you get a checkup?
You get statements from your bank, mutual fund investments, registered plans, stock purchases and sales, and your other investments. Review them at least every three months to compare your current returns against your longer-term goals and overall financial plan and if you’re off track, make changes.
Your financial plan is not written in stone; it’s a reflection of your changing life. A professional planner can help you perform a portfolio checkup that maintains your financial health.
Date reviewed: February 17, 2015
This column, written and published by Investors Group Financial Services Inc. (in Québec – a Financial Services Firm), presents general information only and is not a solicitation to buy or sell any investments. Contact a financial advisor for specific advice about your circumstances. For more information on this topic please contact your Investors Group Consultant.