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Reviewing Your Retirement Portfolio

retirementWhether you are changing jobs, making changes to your financial plan or thinking about retiring, it may be time to adjust your investment mix and investing approach. With the guidance of a South State Investment Services Financial Consultant, you can help keep your portfolio on track with these tips.

Over time, your investment portfolio can change subtly. A bull market can leave you with more of your holdings in equities than you prefer, and the target asset allocations you chose 20 or 30 years ago may be inappropriate today.

Revisit your portfolio a few years before you retire. You’ll need to review your 401k account options with a Financial Advisor and determine what works best for your long term goals.  You will also want to estimate how much you will need during retirement, remembering the effect healthcare, inflation and market fluctuation can have on your savings.  You may determine working just a few years longer will make a positive impact on your financial security.

Be aware of how market risk can affect your investments.  While you may want to keep a portion of your portfolio in equities during retirement, too great an equity allocation can be risky.  Having too much equity exposure in a down market could radically reduce your retirement fund.  Your portfolio asset allocations should be well diversified and appropriate for your time horizon.

Living-standard risk can impact your lifestyle. This is the chance of your standard of living eroding at some point in your retirement. If you have stable income streams and little or no debt, your living standard risk is low compared with retirees having high debt and a portfolio that is too heavily weighted in one sector.

Examine these risks with an advisor.  With South State Investment Services, you’ll experience personalized service, customized financial plans, portfolio monitoring and more.  You can discuss your 401k account options as well as determine a strategy for stretching your retirement income over a longer period of time.

Meet with a South State Investment Services Financial Consultant today and experience first-rate guidance. Get started here.