Managing Investments
Effective investment management requires regular reviews and updates to ensure your financial plan aligns with your current life circumstances and goals. Experts recommend meeting with your investment manager at least once a year to discuss your investment plan, review your risk tolerance, and reassess your cash flow objectives. However, there are key moments in life when a review is particularly important.
Before You Invest
Before making any major investment decisions, it’s important to understand how changes in your lifestyle could impact your financial situation. Some of the life events that may require adjustments to your investment plan include:
Marriage
Combining finances, adjusting tax filings, updating beneficiary designations, and considering joint financial goals.
Birth of a Child
Planning for education expenses and potential changes in your household budget.
Death of a Loved One
Managing inheritance, estate taxes, and any impact on your financial dependents.
Divorce
Reassessing financial goals and division of assets and updating beneficiary designations.
Relocation
Acquiring Debt
Taking on new debt is another critical time to consult with your investment manager. Whether you’re buying a house, financing a college education, or launching a business, these significant financial commitments can affect your investment portfolio. Your investment manager can help you assess your debt load, adjust your investment strategy, and plan for future goals.
Unexpected Life Events
Taking on new debt is another critical time to consult with your investment manager. Whether you’re buying a house, financing a college education, or launching a business, these significant financial commitments can affect your investment portfolio. Your investment manager can help you assess your debt load, adjust your investment strategy, and plan for future goals.
