Baby steps for portfolio makeovers

Monday, February 20, 2017|Retirement Planning|
  • Baby Steps Portfolio Makeovers

At some point, every portfolio requires a partial or total makeover. Especially those that keep buying random investments.

However, investors are reluctant to initiate total portfolio makeovers. My solution is to start with a few simpler baby steps that have the ability to pave the way to the bigger picture.

A full portfolio overhaul can be an exercise too daunting for investors. They have a high reluctance to implement such a detailed process.

Starting with gradual portfolio tweaks often makes better sense. Even though a total makeover may ultimately fit best.

Let’s consider some simple baby steps as starters. Suggestions such as:

  • Stop fretting regardless of your portfolio size.
  • Pay extra attention when near retirement or fully retired.
  • Ensure your investing risks are manageable.
  • Focus more on your “how to” invest strategies.
  • Sell some losing positions and move forward.
  • Learn to take some profits without regrets.
  • Monitor your portfolio two to four times per year.
  • Do not confuse headlines with facts.
  • Adopt a policy of investing gradually.
  • Contemplate the need and value of a second opinion.

Baby steps help open the portfolio door and create momentum for bigger changes ahead. They also reduce ongoing portfolio mess-ups.

Consider my baby steps as motivation to your total portfolio makeover. A methodical road map to your destination is made easier.

About Adrian Mastracci, Discretionary Portfolio Manager, B.E.E., MBA  My expertise in the investment and financial advisory profession began in 1972. I graduated with the Bachelor of Electrical Engineering from General Motors Institute in 1971. I then attended the University of British Columbia, graduating with the MBA in 1972. I have attained the “Discretionary Portfolio Manager” professional designation. I am committed to offering clients the highest standard of personal service by providing prompt, courteous and professional attention. My advice is objective, unbiased and without conflicts of interest. I’m part of a team that delivers comprehensive services and best value in managing client wealth.

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