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Rhodes & Associates - Macomb Township, MI

 

Portfolio Reviews

How Often Should You Update Your Portfolio?

It’s not uncommon for someone to build their portfolio and let it gather dust over the years. Once you have an insurance policy or annuity, you’re set, right? The problem with this set-and-forget method is that you may not be taking advantage of the greatest rates, options, or riders available, which can negatively impact your assets.

At Rhodes & Associates, we believe portfolios should be reviewed every few years. Typically, we first start working with clients by reviewing their portfolio. Many times, a portfolio can benefit from an adjustment, whether it’s updating a life insurance policy or changing policies or investment choices altogether. This is because the markets are constantly fluctuating, new products become available often, and clients are unaware that they exist or how to transition into them tax-efficiently.

The benefits of annuities and life insurance, in particular, have greatly improved over the past few years and have become a way to manage risk and preserve wealth. Your life insurance policy from a few years ago may not be providing as competitive a rate of return as one of the newer options available today.

Our goal is to help you position your assets in qualified and nonqualified plans and create a steady stream of income that lasts through retirement. Contact us today for a review of your portfolio.