Rebalancing and reevaluating your goals
Conducting an annual review of your retirement goals and strategy is a great way to help ensure that your plans for your financial future remain realistic and on track.
Your first step should be to review your retirement savings goals and assess whether anything significant has occurred during the past year that might affect either your outlook for retirement or your current strategies to prepare for it. A financial professional can help you find a strategy that is suitable for you.
Secondly, review your asset allocation to ensure that it is still appropriate for your current needs. Even if your personal outlook hasn’t changed, keep in mind that uneven returns provided by different investments may have caused your portfolio to shift from your intended asset allocation.
Finally, understand that a good way to improve the odds that you have saved enough for retirement is to save more, no matter how prepared you may already be. Can you contribute an extra 1% or 2% of your salary?
Asset Allocation, which is a method of diversification that positions assets among major investment categories, does not guarantee a profit or protection against a loss.
Important note: Equitable believes that education is a key step toward addressing your financial goals, and this discussion serves simply as an informational and educational resource. It does not constitute investment advice, nor does it make a direct or indirect recommendation of any particular product or of the appropriateness of any particular investment-related option. Your unique needs, goals and circumstances require the individualized attention of your financial professional. Asset allocation and rebalancing do not guarantee a profit or protection against investment loss.
We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Equitable Financial Life Insurance Company (New York, NY) issues life insurance and annuity products. Securities offered through Equitable Advisors, LLC, member FINRA, SIPC (Equitable Financial Advisors in MI & TN). Equitable Financial Life Insurance Company and Equitable Advisors are affiliated and do not provide tax or legal advice.