One of the best financial planning moves you can make is to reconsider all your existing investment management choices. This doesn’t have to feel like starting from scratch but rather serves as a big-picture review that helps you recognize the right moves and where it would be helpful to make some tweaks as one year ends and the next begins.
Weigh Investment Management Risks and Rewards
Wealth accumulation often involves consistently contributing to various investments and monitoring how those market environments perform. It is important to remember that investing means taking risks that can include a possible loss of principal. There are no guarantees with any investment management strategy or risk management techniques, but with the help of your financial planner you can create a consistent investment plan and monitor performance.
Recognize How Life Has Changed
From year to year, life changes. There are births and deaths, big purchases and big sales, job changes, weddings and divorces, kids off to college, and so much more. Fluctuations in the norm automatically impact how a person feels about spending money, saving money, and making investments. When your world has been altered it’s a good time to review how your investments are positioned, reevaluate your risk tolerance and goals, and secure your legacy.
Put All Your Wishes in Writing
Estate planning is important for every adult and it’s important to get your assets and wishes in writing when it comes to your last will and testament, power of attorney, living trusts, and healthcare directive. Estate planning essentials make all your wishes clear among family and business associates. If you already have an estate planning portfolio, take the time to revisit it and make sure you feel the same about your choices, designations, and more.
Reestablish an Effective Financial Strategy
Every person has their own effective financial strategy that works for their position in life and goals. You can explore every angle with your financial planner to determine what steps are best for you, which includes conversations about diversifying assets, financing large purchases, or planning for retirement. The most powerful financial strategy is a customized one.
Be Open to Professional Financial Support
If you have been managing your own portfolio up to now, consider taking a more deliberate approach to financial asset management by working with an experienced financial professional. This relationship and the knowledge and expertise that comes with it can help you weather the highs and lows of investing now and with the turn of every year.
Visit Hollander Lone Maxbauer to discuss investment management and receive the market expertise and professional advice you need to end this year and take you into 2026. We are always here to simplify the market and economic environment and changes and develop an individualized portfolio that helps you pursue your investment goals. Contact us to schedule a consultation at our Southfield, MI, office.
