If you build a portfolio right at outset, it should – I believe – largely look after itself. But you should still keep an eye on it of course. In this week’s show I’m going to be covering the basics of how to review your portfolio as the years go by, to ensure it still serves the purposes you set for it.
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How to review your portfolio
Reviewing a portfolio has the potential to be a bit like annually clearing out the garden shed – not a job you look forward to, and maybe one you keep putting off. Perhaps you haven’t cleared out the shed in a very long time…
But while reviewing your investments is important, I also want to downplay it a little bit. A lot depends on your interest in matters of investing, and how hands-on you want to be. Fortunately, there are options for everyone, so let's look at how to review your portfolio…
In this session, you'll discover:
- The difference between a portfolio and a financial plan
- What I think about benchmarks
- Why your definition of success is the only one that matters
- How often you should review a portfolio and when you should conduct ad-hoc reviews
- Why context is so important when reviewing your portfolio
- That rebalancing is a key discipline
- That it is vital to have good decision-making structures in place
Resources mentioned in this week's show
And of course, there's a full transcript of the show available by clicking the big blue button below!
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Question: When was the last time you reviewed your portfolio? Be honest!
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