5 Questions to ask when reviewing your investments.
1)When did you meet with your financial advisor last?
I recently sat with a few new people who shared with me they have not heard from the person in a long time. My goal is to be like a coach for my clients. I am here checking in with you, reviewing your file, answering your questions and coaching to help you stay on the goals you have set.
2)How do the investments fit into your financial plan?
What are you trying to accomplish with your investments? It would be best if you had a plan in place. When you know what you want, you know how to deal with your assets. Short-term and longer-term goals change how you invest. It does not have to be complicated; keep it simple.
3.What type of investor are you, and what season are you in?
Understanding how much risk you are willing to take is essential. This depends on personality, needs, goals, time. Are you in the accumulation phase, or are you close to retirement and want to secure those assets, or is it time to start withdrawing? These factors play a role in your assessment.
4)Massaging and asset allocation for your investments.
As the years go on, you will need to massage parts of your investments based on the markets and your risk assessment. Assuming we are investing for the long term, we need to be careful not to chase the ups and downs of the everyday parts of the market.
However, we may need to move some money from one area to another. Has your risk changed? Was there a change in the goals of the fund you invested in? May you need to move some money?
How is the asset allocation of the funds you are investing in? When looking at asset allocation, you may have some down, but you will have others making money. Are more making than losing?
Check out this image for understanding the need to stay in over the long term?
How I can help in this area? I work with fund managers who build the investment vehicle. I get you on the right plan, work with them, get you up, and through the storms and land at the right time.
5.Set your next review time.
It is important you know what is going on. This allows for no surprises in your journey. Book the next time you want to sit down and review.
What questions do you have? Let’s connect for a free conversation over zoom.