Portfolio and Plans to Match Your Goals

One of the many reasons we have been stressing the importance of mid-year reviews this year includes the recent market performance. The markets are up about 18% year-to-date. Now may be a good time to consider your liquidity needs for the next 10 years. If you have avoided selling when the market was down, now may be an opportune time to fill your liquidity needs.

Reviewing your portfolio isn’t just for those who are nearing retirement. All life events present some financial challenge. If you have recently graduated and have your first real job, it is a good time to begin investing for your future by dollar-cost-averaging funds into the market. If you are recently married, you may want to redefine your financial goals together, so that you are investing toward common goals, such as the purchase of a home. If you’ve had a child recently, or your child is beginning school, you may want to consider your liquidity needs for the child’s college years.

Likewise, when you are reviewing your goals and making sure you are on track with your savings strategies, you should look at your portfolios to see if you need to rebalance your investments. Some stocks may have had stellar performance and could have grown to a larger percentage in your portfolio than you should have. With the markets up, you may be in a good position to take profits. Additionally, if you invest in mutual funds, keep in mind that the distributions at the end of the year are likely going to be larger than the past five years, because many of the tax loss carry forwards are gone.

You should be aware that tax laws have changed this year. You may need to plan now if you will be affected by tax laws aimed at higher income families with modified adjusted gross incomes of $250,000 for couples married filing jointly.

With only five months left in the year, you should have time to make adjustments to your portfolio to account for any tax law changes that may affect you. You should also be able to adjust your savings strategies and financial plan to accommodate life changes that may affect your future goals.

At Henssler Financial we believe you should Live Ready, which includes being able to adjust your financial plan when your circumstances change. If you have questions regarding your financial futre, the experts at Henssler Financial will be glad to help. You may call us at 770-429-9166 or email at experts@henssler.com.

Disclosures

This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis in making any decisions and is not intended to replace the advice of a qualified professional, such as a tax consultant, insurance adviser or attorney. Although this material is designed to provide accurate and authoritative information with respect to the subject matter, it may not apply in all situations. Readers are urged to consult with their adviser concerning specific situations and questions. This is not to be construed as an offer to buy or sell any financial instruments. It is not our intention to state, indicate or imply in any manner that current or past results are indicative of future profitability or expectations. As with all investments, there are associated inherent risks. Please obtain and review all financial material carefully before investing. Henssler is not licensed to offer or sell insurance products, and this overview is not to be construed as an offer to purchase any insurance products.