You probably get a regular health checkup, you get your teeth cleaned twice a year, you get a second opinion for major health issues. You may even get a second opinion when you buy a boat or a vacation home!But do you get checkups or second opinions for your investment portfolio? How long has it been since you have had a serious look at your investment portfolio? Is it more than 2 years? more than 5 years? If you look under the hood, you may find that your portfolio no longer meets your needs. You may find that changes in your life have evolved your risk tolerance and the asset allocation that’s appropriate for you.
You may find that the stocks, the bonds, the mutual funds, and the annuities that you have grown comfortable with, have reached a phase in their development that does not meet your needs anymore.As you approach retirement your risk tolerance will change, and should be reflected in your portfolio . The asset allocation that worked when you were 45 or 55 and trying to grow your portfolio, may not work when you are 65 and planning for retirement income and other goals. For a 65 year old, retirement can easily last 20 or 30 years or longer . Will your investment portfolio carry you through? Will your retirement income from investments keep up with inflation? Will you be able to meet the increasing cost of health care? How will you be taxed? Will there be enough to leave to your grandchildren?
Call today to get peace of mind with a Second Opinion on your investment portfolio from a fee-only advisor. You will be glad you did.
Previously published in the Colonial Times