As we approach the half-way point of the year, it may be a good time to sit down and review your investment portfolio.
The stock market has been volatile so far in 2010, and many people are uncertain as to what to do with their investments. Should you be confident that the market will settle down, and stay in equities or move more into equities? Should you take a cautious position, and move (more) into fixed income offerings? Unless you have a crystal ball it is hard to know what to do!
You can't control the market and all of the worldwide factors that influence it. What you CAN control is your portfolio. Periodically sitting down with your Financial Advisor is important. He or she can help you revisit your original important financial goals, and see if they still apply. Something may have changed since your last review or financial plan. You may now have a short term need for cash due to a repair. You may have decided to retire sooner than planned. Has something changed in your life, your goals or your timeframe? These are all important considerations as you look at your objectives for your portfolio.
Positioning yourself in high-quality investments that have a long history of paying and raising their dividends is one way to develop a portfolio that will weather all markets. Making sure that you are properly diversified is also key. Lastly, making sure that your goals and timeframe match your investments and the amount of risk you are taking in your portfolio is critical.
Now is a great time to schedule a meeting with your Financial Advisor or to find an Advisor. Make sure that you are comfortable with your portfolio going into the second half of the year.
(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).