For example, just as you reevaluate the need for some household items, you can do the same for investments. If one no longer fits into your long-term goals, this might be a good time to speak with a financial advisor.
Here’s another spring cleaning tip: Put things back in order. Over time, your closets may become cluttered, causing you to do some reorganization. Your investment portfolio can also become unbalanced with too much of one investment and too little of another. Look for ways to rebalance your portfolio.
By giving your portfolio an annual spring cleaning, you can position it to help you make progress toward your key financial goals.
CREATE A STRATEGY FOR MATURING CDS
Some things, like fine wines, get better with age. But a certificate of deposit is not one of them. So, when your CD matures, you need to do something with it. But what are your options?
You could reinvest the proceeds into another CD. This might be a good move if you originally purchased the CD for the income it provides.
However, if you bought the CD to remove some money from a volatile stock market, then the CD’s maturity gives you a chance to re-evaluate your investment strategy. Even the worst bear markets don’t last forever, and the biggest gains in a rally can often occur at the early stages of such a rally.
Consequently, if it’s appropriate for your individual situation, you may want to invest the proceeds of your CD into quality equities or other securities.
A maturing CD presents you with an investment opportunity, so make the most of it.
Contact Wendell at Edward Jones www.edwardjones.com.
|
