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Craig Lundquist, MBA, ChFC®, CRPC®
VP of Wealth Management
651-773-2757
Kristin Becker
Senior Administrative Assistant
651-773-2821
Ideal Wealth Advisors
Located at Ideal Credit Union
8499 Tamarack Road
Woodbury, MN 55125
CRPC conferred by College for Financial Planning
May/June 2024
Time for a Mid-Year Portfolio Check
Investment values aren’t static. They rise and fall throughout the year based on market performance. As 2024 approaches the halfway point, it is a smart move to review your portfolio to determine the impact of market fluctuations and make any needed changes to stay on track with your investment strategy.
Review Your Strategy
The reason for having an investment strategy is to move you closer to the goals you’ve set for yourself. Based on your life stage, consider whether your current portfolio balance combined with your savings rate puts you on track to reach your goals.Check Your Asset Allocation
Comparing your portfolio’s actual asset allocation to the target allocation you chose when you selected your investment mix can help you determine if you’re taking more or less risk than you intended. If your investment weightings across equities, fixed income and cash are no longer in line with your long-term goals, you may want to rebalance your portfolio. You can rebalance by selling investments in the category that is outperforming or by funneling future contributions into the investment class that falls below your target allocation.*Assess Your Risk Tolerance
The amount of investment risk you are willing to take is a personal decision. Conservative investors tend to be cautious about taking too much risk, while moderate and aggressive investors are willing to take more risk in the hope of earning higher returns. No matter which type of investor you are, make sure you are taking the appropriate amount of risk for your age and goals. Investors with a longer time frame before they’ll need their savings typically can afford to invest more heavily in equities, while investors who are closer to retirement may want to shift a larger portion of their investments into fixed income investments.Priorities Can Shift
Life events can affect your goals and investment strategy. Marriage, divorce, job loss or a new baby may alter your goals. You may need to make changes to your strategy that reflect your new circumstances.Your financial professional can help you with your mid-year check-up.
*Asset allocation won’t guarantee a profit or ensure against a loss but may help reduce volatility in your portfolio.
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