Reset for the New Year

by Financial Design Studio, Inc. / January 1, 2018

Reset for the New Year

Like every other January 1st, we find ourselves looking back over the past year and looking forward to the new year.  As is common, we find ourselves pledging to get back to healthy habits and start afresh.  A new year offers the ability to turn the calendar and set a new starting point.

And just like those other healthy habits this is necessary to review when it comes to your investment portfolio too.

Changes may be required after looking back over the past year.

Since this past year provided gains from investment performance, you may find that some sectors or holdings have too much of an allocation due to the growth.  Some holdings compared to others may need trimmed back or increased to reallocate to an appropriate diversification.

Changes may also be required when you think ahead to the new year.

If this year holds some changes ahead in your lifestyle or career you may need to make some adjustments to plan ahead.  There can be many reasons; retirement, change in your family’s health, need for income or the ability to be saving more.  Any of these changes require thought for how to invest additional funds or how to manage the need for withdrawing funds.

As we have shared in past weekly updates we do believe that 2018 holds potential to be another strong performing year in the investment markets.  So it only makes sense that a look into your portfolio is necessary to start the year off right to make the most of the year ahead.

Some areas we will be reviewing include but aren’t limited to risk tolerance, cash needs, diversification, and even tax planning.  Because of the recent tax reform it will be important that you are planning ahead to take advantage of every itemized deduction you still can or planning for the outcome of accepting a higher standard deduction.

Whatever your situation, plan ahead to make the most of another year.  We wish you all the best as you consider starting afresh for 2018!



fds new year taxes II

Ready to take the next step?

Schedule a quick call with our financial advisors.

Recommended Reading

Wealth Management Financial Advisors on Inherited Money in Illinois

Here’s What to Do When You Inherit Money [Video]

In this video we break down who you should talk to, what really matters, and then the factors to look at about your inherited money.

Wealth Management Financial Advisor in Chicago on Inheritance Taxes for Beneficiaries

Inheritance Taxes for Beneficiaries

In this video, we walk explain inheritances taxes for beneficiaries, like inheriting an IRA and how to think about trust taxes.

Financial Design Studio, Inc.

We are financial advisors in Deer Park and Barrington, IL. A team with a passion for helping others design a path to financial success — whatever success means for you. Each of our unique insights fit together to create broad expertise, complete roadmaps, and creative solutions. We have seen the power of having a financial plan, and adjusting that plan to life. The result? Freedom from worrying about the future so you can enjoy today.