New Year Resolutions for All Investors

New Year Resolutions for All Investors

As we step into the new year, here are some resolutions that all investors should consider.

Resolution #1
Identify life changes in 2015.

Did you cross any major milestones during the past year? Did you get married, buy a house, have a new baby? Or, do you have plans to reach any major achievements during this new year? You should reevaluate your investment plans each year to align with your current financial status.

Resolution #2
Update your financial plans and increase your savings rate.

After understanding your current financial status and direction for the new year, adjust your contributions accordingly so your investments move in the direction of your financial plans. It is important to set attainable goals while also taking the time to prioritize and quantify each investment objective. Once you have everything laid out, you may want to increase your savings rate to add extra cushion to your investments.

Resolution #3
Work closer with your financial advisor.

Work with your financial advisor to understand your investment risk profile and build a sound portfolio strategy that will keep you on track during market highs and lows. It is important to discuss investment goals, expected return rates, as well as reasons for why and how you might make changes to your investment strategy.

Resolution #4
Get Organized. Go paperless. And, be secure.

Stay on top of your investment plan by logging in and taking advantage of your Investors Trust Account Access website. In this highly secure account access page, you can monitor the status of your plan including details of all your transactions. You can also enjoy the ability to analyze and make changes to your portfolio, as well as make online payments. Investors Trust offers many secure resources for investment management. Opting for the electronic delivery of financial documents is much safer and less vulnerable than receiving such statements in the physical mail.

Source: Benz, Christine. “6 New Year’s Investing Resolutions.” Morningstar: Improving Your Finances. Morningstar, Inc., 4 Jan. 2015. Web. 13 Jan. 2015.
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