It's time again for the NFL Playoffs. That means Peyton Manning throwing, LaDainian Tomlinson running, Larry Fitzgerald catching and the collective Buffalo Bills looking at a 9 iron from about 140 yards. Teams prepare hard all week based on what they do well, the opponent they're playing, and the conditions they expect to see on the field. But often times what separates the teams that move on from the teams that go home is their ability to make adjustments throughout the game. When Peyton Manning steps to the line of scrimmage you can see his eyes scanning the field and if he doesn't like the other teams defensive formation he will audible to a different play that has a better chance for success. For the last 10 years, Bills quarterbacks have walked to the line of scrimmage and thought "Wow, this is a bad defense for the play we're running. Oh well: DOWN, SET, HIKE!"
Planning for retirement can be thought of in the same way. Sure it's important to start with a well-thought-out game plan, one best suited to help you reach your goals down the road. But in this climate, the market is ever changing. Something you thought was a good idea in 2005 (and maybe it was a good idea in 2005!) may no longer be appropriate. The ability to be flexible with your portfolio and adjust it based on what the market, your job, and your personal life have thrown at you is important in reaching the goals you have set. So take the time to sit down and look at everything that happened in the first half, and be willing to make the adjustments necessary to be successful in the second half.
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).