Mid-Year Financial Health Check – What To Look For?
We are currently at the half way mark of the financial year 2015-16. This is an excellent time to do a financial health check on your finances. This way, if you need to correct course, you can do it now when you still have six months remaining in the year.
Hope your investments are doing better than overall stock markets. Ups and downs are part of the game. Whether you win or lose depends on how you play the game.
What have you crossed off your to-do list this year? What have you been putting off? If you haven’t had the time or motivation to assess your personal financial situation, I don’t blame you in the slightest (relaxing at the lake sounds better to me, too). But the days are getting shorter already, and before we know it, we’ll be closing out this year.
Here’s a guide to help you verify you’re still on track for financial success in 2015-16:
Take a minute and reflect on where you were at this time last year. What has changed?
For starters, take a look at your stock portfolio.
- How has it performed?
- What was the value last year this time?
- How many new investments did you make this year?
- How are the new investments doing?
- How is the overall portfolio doing?
- Are there any “mistake” investments from the past to get rid of?
What about your asset allocation? Has your priorities changed this year?
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