It is important to sit down from time to time and review your portfolio to make sure that your investment strategy and allocation still has you on track toward financial stability in the future. The following describes why it is important to review your portfolio, and when you should consider changes.
Why Make Changes?
Just as a distance runner might find it difficult to focus on an entire marathon, investors struggle to stay on a path toward a financially healthy retirement. Preparing for your retirement finances should be viewed as a marathon, rather than a sprint. Unless you win the lottery tomorrow, you are not going to be prepared to retire at the end of the year or even the end of the decade.
Hiring a financial advisor is like selecting the right mechanic for your car. Although the stakes are not the same, you wouldn't trust your vehicle to someone who is going to suggest unnecessary repairs and upgrades just to line their pocket with more money. You should put the same effort into finding the right financial advisor.
The word retirement and all the financial responsibilities it encompasses tend to loom over the lives of many Americans as a daunting thought. As a result, preparation for the future often shifts to the backburner. Retirement should be the best time of your life – something you look forward to, a destination you strive to reach.
With online trading and mobile apps that allow investors to buy, sell, and trade at the drop of a hat, it is difficult to imagine a time when investing looked different than it does today. Believe it or not, the history of investing dates back well beyond the advent of the computer and the Dow Jones Industrial Index. Would you believe that investing dates back as far as the 1600s?
There are few things more nerve inducing to investors and the general public than a recession. Economic slowdowns occur from time to time, but a recession marks a sustained dip in economic performance. A recession is rarely good for your investment portfolio, but it does not have to be a bad thing either.
Paul B. Miller, as a Certified Financial Planner (CFP®) and an Investment Advisor Representative (IAR) started Indian River Financial Group, Inc to act as a financial planner for clients from Boca Raton, Florida, as well as the surrounding communities, and to offer you services such as asset management, wealth management, investment planning and risk management.
© 2025 Paul B. Miller, CFP. All rights reserved.
