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Coordinate Your Accounts Together [Video]

by Financial Design Studio, Inc. / July 8, 2020

Many working families today find they are too busy to check in on their investments as often as they should. But as I like to say, “Investing is complex, but it does not have to be complicated.” And if you have a long-term goal like retirement, you do want to make sure you are staying on top of things without feeling overwhelmed by it.

So what we recommend you do is pick one day out of the year where you block off a couple hours of time in the afternoon and look at all your investment accounts. There’s your 401K’s, IRA’s, and any trusts that you have. Gather them all together, to coordinate your accounts.  There are two things you really want to look for, your investment options and asset allocation.

Investment Options

So if you have a 401K with your employer or old employer, look at the investment options you have available to you and make sure you are selecting the best ones that align with your goals. 

Asset Allocation

And secondly you want to check your asset allocation. As markets move up and down, what might have been a good asset allocation for your goal a year ago might not be the same today.

So you want to look at the relative weight you have between stocks and bonds. If they are out of wack, make sure you balance and get those back into focus. 

Again, it doesn’t have to be complicated. Investing is complex, but it doesn’t have to be complicated. 

So just pick one day out of the year and open up your calendar and set a date right now to review all your investment accounts.  If there is anything we can do to help you to coordinate your accounts and get organized, please reach out to us and we’ll be happy to help you. 

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Contact us today for a free 30-minute consultation!

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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.