Financial Focus: Now is the time for a spring financial cleanup | Independent perspectives

Financial Focus: Now is the time for a spring financial cleanup |  Independent perspectives

In just a few days we will experience the vernal equinox – one of the two times a year when the sun is exactly above the equator. Aside from this astronomical anomaly, the equinox is best known as the onset of spring – a new beginning and the time of year to spruce things up. This year, as you tidy up your home and surrounding area, why not consider a spring financial cleanup as well?

Here are some ideas for getting your financial house in order:

“De-clutter” your wallet. Over the years, many of us tend to pick up duplicate items that end up in the nooks and crannies of our homes, collecting dust and staying unused. Over time, your investment portfolio may also accumulate redundancies, that is, you might own several investments that are essentially similar. It might be appropriate to replace some of them and expand your holdings.

Own your investments wisely. You own certain things for certain reasons – a broom to sweep the floor, a microwave to heat food, etc. As an investor, you should follow a goal-based strategy that includes matching certain investments with certain goals. For example, you could own stocks or mutual funds to eventually provide the potential for capital appreciation that you will need to comfortably retire. But you could also own other vehicles, …

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