Keep Your Financial Plan Working While You’re On Vacation

The plan receiving the most attention this time of year is the vacation plan. But there’s another plan that also deserves attention – your financial plan. Here at the midyear point, take some time to look over your financial plan before you leave on vacation. Are you on track to meet goals you set at the beginning of the year?  Have things changed in your life or business that would make financial goal realignment a good idea? Here are two other important things to consider:

Asset allocation
It’s essential to regularly review your holdings and rebalance your portfolio to adjust for changes in the market environment or in the performance of your specific securities. Long-term goals can change over time, and you’ll want to ensure your assets are performing to meet your objectives. Rebalancing means restoring your original allocation among equities, fixed income, cash and other investments.

Cash needs
Often people find that their circumstances change throughout the year. Do you need more cash for day-to-day purchases now than you thought you would? Should your portfolio be adjusted for both liquidity and long-term security?

If any of these situations apply, now may be the best time to work with your financial advisor to reassess your situation so you can enjoy your vacation and still meet your objectives.

Asset allocation does not guarantee a profit nor protect against loss.

Material prepared by Raymond James for use by its financial advisors.

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