While pursuing your financial goals, keep your eye on the horizon. However, don’t overlook potential detours – like rapidly changing markets – that may require a navigation change.
According to Simon Woon, president of Paragon Financial Services, one of the best pieces of advice he can give clients regarding their financial wellness is to “take a look at your statements and your current asset allocation to see if changes may be necessary.”
While he notes that asset diversification is always important, he emphasizes that monitoring your investments is as well. Done correctly, this enables you to make adjustments to take advantage of or manage risk during changing economic trends and events. Monitoring your investments also helps you stay on track toward your financial goals, and stick to your investing plan regardless of what the market does.