But you may want to make adjustments if your goals change or if your portfolio has gotten out of balance. For example, if you own a lot of stocks, and their prices have gone up substantially as part of the prolonged bull market, then more of your portfolio's value than you intended may be in stocks. Ask your financial professional to compare your individual investment returns against appropriate benchmarks. Ask your investment professional to run some computerized , projections of your retirement savings. If you're not on track toward meeting your goals, you may need to make some changes.
Adequate insurance is a key ingredient of a comprehensive financial plan.
It's never too early to start doing estate planning. Parents should draw up a will or a living trust to provide for their minor children. And people in or near retirement should position their estates to spare their heirs from having to pay heavy estate taxes. As you can see, there are many issues to explore during your annual financial checkup. By staying on top of these matters from year to year, you'll continue making healthy progress toward all your goals.