Financial Spring Cleaning

Spring is here — which means it’s once again time to wash the windows, organize your cabinets and steam your carpets. This year, besides tidying up around your house, why not also consider some financial spring cleaning?

De-Clutter

For starters, you could “de-clutter” your investment portfolio. How? Look for duplicate or near-duplicate investments. You may be better off selling these to broaden your investment mix and asset allocation.

Dust Off

Here’s another spring-cleaning tip: Dust off your investment strategy. If you’ve experienced changes in your life, such as a marriage, a new job or the arrival of new children or grandchildren, you may want to adjust your goals and the methods of reaching them.

Clean Up for Safety 

Also, just as you may get rid of broken tools or other dangerous items when you clean your house or garage, you need to watch out for threats to your financial security, such as a major home or auto repair. You can protect yourself by building an emergency fund containing several months’ worth of living expenses.

Your Financial House in Better Shape

Of course, some of these moves can take some time — but by getting started on them sooner rather than later, you can help put your financial house in better shape for the next spring cleaning.