Taking Stock of Your Portfolio

Have you taken a close look at the holdings in your portfolio lately? Do your investments reflect your needs, objectives, and comfort level in the current investment environment?

It’s a good idea to periodically sit down with your financial advisor to review your portfolio holdings and other assets to be sure that those investments line up with your current situation in life.

If there have been any significant changes in your life or your financial situation, you may need to make some adjustments in your portfolio. In fact, even if you’ve stayed right on track, it’s still a good idea to review your portfolio from time to time to make sure your investments still make sense for you.

Your financial advisor will be helpful in explaining your portfolio holdings and showing you how all of the pieces fit together in a diversified portfolio.

CLICK HERE to get your free copy of our 24-page retirement booklet, “Planning for Retirement – Strategies for Your Life, Your Finances, and Your Future”. In this booklet, you’ll learn more about strategies and options for your future.  

Getting Set for Life

Getting set for life can mean more than investing in a retirement savings plan. In order to be truly set for life, you need to consider a wide variety of financial matters to assure that you and your family are covered through good times and bad.

That may mean reviewing life and disability insurance needs for you and your spouse and setting up a savings plan to cover your children’s educational expenses.

It may also mean setting up an estate plan to keep your financial affairs in order even if you aren’t able to handle your finances on your own.

By working closely with your financial advisor, you can set up a comprehensive financial and estate plan that will truly help you become set for life.

Most discussions of retirement planning begin with an estimate that you will need 70% of your working income when you retire. That’s the wrong place to start. Don’t let anyone tell you what you might need in retirement.  You start the discussion by telling them what you want.
 
What’s the point of planning, saving, and investing? If you begin where many industry experts and consultants advise, you may already be planning to fail. Don’t start with needs planning.  Needs planning is very popular and is the prevalent planning methodology in the financial industry today. It’s one of the worst things you could do and suggests a financial outlook that I constantly fight. If you base your planning on what you need, you are aiming too low. In the late 1960’s the Rolling Stone’s sang, “You can’t always get what you want…” but why would anyone plan for anything less? 

Wealth Enhancement Group has helped thousands of Minnesotans plan for a comfortable retirement. With a team of experts well-versed in financial planning, investment management, and maximizing tax strategies, Wealth Enhancement Group will help you achieve the life you imagined.