Broker Check

Have You Been Lulled?

| October 01, 2018
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Have You Been Lulled?

With new highs on the S&P500 and the DJIA, it can be easy to become complacent. After all, we have had a bull market now for quite some time. Of course, we have to remember that it was not all an upswing - there were times in 2011 and again in 2015 and 2016 where we had some fairly significant bearish downturns. They did not last and it can become something we brush over in our memory.

During times of market confidence, we may seek to take higher levels of risk. But we need to know what our “true” risk tolerance is. Depending on our age and stage and the time horizon to our goals, we might not truly be able to absorb as much risk as we have become emboldened to seek.

It is not uncommon for investors to set aside statements they receive in the mail and not look at them. Please take a look. Please know where you are. Please look at what you own and consider why you own it. If you are not sure, please ask your financial advisor. Don’t take your eye off your goals. Don’t become lulled to sleep.

A review with your financial advisor might touch upon:

  • How are your investments performing? (Short and long term trends, any changes at investment company or in market conditions).
  • Have there been any changes in your goals or time horizon? (Do you know seek to retire earlier? Are you now seeking to pay for a grandchild’s college education?)
  • Have there been any changes in your circumstances? (Personal health, work status, marital status, birth/death, other)
  • What new concerns or immediate actions do you seek to take? (Do you wish to take a distribution? Do you wish to make a deposit? Do you wish to be connected to a resource such as an attorney for a will?)
  • What actions will the advisor take following the meeting? (Reallocation of asssets, paperwork processing). What actions will you the investor take following the meeting (Make an appointment with attorney to update will).

Just like you don’t have to be “sick” to go to the doctor for a checkup, you don’t have to have an emergency to schedule an appointment to check in with your financial advisor. Many advisors offer phone appointments which can be very efficient in helping you to maintain your financial confidence with a brief conversation sticking to an agenda.

Don’t be lulled. Be informed. Stay in touch with your financial advisor. Make this part of your routine.

The opinions expressed are solely those of the author. Seek advice from a qualified professional before taking any action in regard to your finances.


Todd A. Slingerland, CFP®

6 Tower Place Albany NY 12203   (518) 867-4000 x105


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