What we can learn from Sparkling Sunday

Sunday afternoons are my favorite time of the week. I make it my goal to have my workout, meal prep and house chores done so my husband and I can have what I refer to as “Sparkling Sunday.” While my son naps, we drink sparkling wine and watch YouTube videos of people who buy run down, dilapidated estates and chateaus & restore them (who doesn’t love the dopamine hit of a good before & after??)

This past weekend, our conversation went as usual – me thinking something was done well and looks good while my husband (who is a classically-trained residential architect) disagrees. This time, it was about a restored window – the wood frame had a seam in the corner that I didn’t even notice. However, his expert eye saw it immediately and knew it was a shortcut & could create potential issues down the road.

This got me thinking about how we don’t know (or see) what we don’t know. In this instance, it was a wood window frame, but the same thing happens to me regularly when looking at investment portfolios and accounts. What may seem good to an untrained eye, often times has room for improvement. Something that may be working well now could create issues or unintended consequences in the future.

Some examples that come to mind…

1.????? Owning multiple funds that invest in the same underlying companies. So, while you may think you’re diversifying your investments, you aren’t.

2.????? Having mutual funds in brokerage accounts. Mutual funds can create capital gains and unintended tax consequences.

3.????? Out-of-date account titling, beneficiary designations and personal information.? Or worse, missing all together!

4.????? Keeping too much in cash. While interest rates have come down, there are still money market funds, CDs and high yield savings accounts yielding over 4%

5.????? Throwing the balance & risk level of your portfolio by not rebalancing regularly

And the list goes on!

So, if you think your investment portfolio is doing well and looks good, maybe there’s something you don’t see. Let’s explore if there’s a small tweak or shift we can do to make it even better.

Simply email me to set up a complimentary investment review, [email protected].

Cheers!

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