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Everyone changes. Our portfolios should change with us

Building a portfolio that reflects your long-term needs is only the first step in planning for your future 

If you’ve worked with our office, you’ve already done a review of your life and financial circumstances, and built a portfolio that is intended to reflect your short- and long-term needs.

That said, over the years, a person’s financial circumstances and needs tend to change. Things like changing jobs, getting a raise, getting married (or divorced), having children or inheriting money are all life changes that could impact your savings strategy and your portfolio.

A good example of this is when a person turns 60-years old. Before many people turn 60, retirement seems far away and they tend to be willing to take a bit more of a risk with their savings, trying to achieve stronger returns. At 60 (give or take), however, retirement starts to appear a bit closer to many people. And that may cause you to become somewhat more risk-averse. When that happens, it may be time to rebalance your portfolio to include a higher percentage of income-type products (bonds and bond funds, etc.). That way, you can continue to benefit from some equity exposure, while potentially lowering your volatility and gaining a bit more income from your portfolio.
This is just one example of many where you might consider reviewing your portfolio, but even getting a promotion at work or having a baby are common occurrences that merit a review of your portfolio.

To review your portfolio to ensure it continues to reflect your life today, please contact our offices.

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