Spring Cleaning Your Retirement

Screenshot 2015-03-23 10.23.09The New Year might conjure up visions of resolutions and hopeful beginnings, but springtime can do just the same. As the weather warms, new buds bloom and gardens will soon abound with fruits, vegetables, and flowers alike. But along with gardens also come weeds, and your retirement planning is no different.

As you clean out your closets, reorganize your pantry, and weed out your garden, don’t forget your retirement portfolio, too!

Here are a few tips when it comes to spring cleaning your investments:

  1. Pull those weeds. Any investments you have that are losing, and have been losing, get rid of them. The only thing they’re doing is crowding out the sunshine and bringing your portfolio down.

  1. Prep your garden space. Dirt must be aerated, seeds sown, sprouts fertilized and watered, then given plenty of space and sunshine to grow. Are your investments set to get you the most you need for your retirement goals? When was the last time you reviewed each of your stocks, bonds, and/or funds? Make sure your investments are aligned with the here and now so your future will be ready for you.

  1. Plant a variety. A garden of just one fruit or flower might be easier to maintain, but it only yields one outcome. A portfolio should also have a wide variety of investments including index funds, “value” funds, stock funds, short maturity bonds, and more.

  1. Give it space and sunshine. Once you have reconfigured your portfolio, give it time—six months to a year– to see how the numbers play out as interest rates fluctuate and the market ebbs and flows. Then, weed, garden, and enjoy those proverbial fruits of labor.

  1. Hire a gardener. While it never hurts one to get a little dirty, it also never hurts to have a professional who knows exactly what they’re doing. When it comes to your retirement, you want a financial planner who specializes in retirement planning. Call us today to see if we are the right fit for you!

As any gardener will do this time of year, it is imperative to lay the groundwork for a successful garden. And hopefully, with time and care, your retirement funds, just like a garden, will flourish, giving you plenty of time in retirement to stop and smell the roses.

Michael Canet is a Registered Representative with TCM Securities, Inc. and can offer securities through TCM Securities, Inc., Member FINRA/SIPC.

 

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