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A Midyear Portfolio Checkup in 7 Easy Steps
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Accumulators: Is Your Retirement Plan on Track?
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A version of this article originally published in April 2017.
Each year in advance of our annual Portfolio Makeover series, I receive scores of emails from individuals who would like to be featured. I hear from folks with eight-figure (yes, eight) portfolios and people getting by on a shoestring, individuals with full pensions as well as job-hoppers whose investments are a web of 401(k)s and IRAs in multiple silos.
If there s a unifying theme among many of the submissions, it s that so many of them come from people who are getting close to retirement. While I haven t calculated a mean age for submissions I receive, the vast majority of investors who submit their portfolios are between the ages of 55 and 65. Most of them are still working, but beginning to test the waters on retirement readiness. They d like another set of eyes on the viability of their plans, as well as the positioning of their portfolios.
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My annual Portfolio Makeover Week kicks off on Nov. 9, 2020. Over the course of the week, I ll be digging into the situations of real-life investors and sharing my ideas about how they might improve their portfolios and financial plans.
As is the case every year, I receive hundreds of makeover requests, and it s hard to winnow it down to just five. The good news is that with a bit of time and discipline, investors can undertake their own portfolio makeovers along the same lines.
If you d like to conduct a thorough review of your portfolio and plan, here are the key steps to take. And remember, you don t have to get through all of them in one sitting. For your own sanity, it s going to be much more manageable and effective to knock off these jobs over a series of sessions rather than all at once.