It's been a volatile year for the market: These are the key things to know before rebalancing your portfolio

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After a volatile year for the stock and bond markets, it may be time to rebalance your portfolio. Here's what to consider before making changes.

But as the markets fluctuate, the allocation of each type of asset may shift, and without periodic rebalancing, "the portfolio starts to look very different," he said.

For example, if your target is 50% stocks and 50% bonds, those percentages could eventually drift to 70% stocks and 30% bonds, which is "far riskier" than the original allocation, Watson said.Generally, investors use one of two strategies when deciding how often to rebalance, Watson explained. You may use "calendar-based timing," such as quarterly or annually, or make changes "as needed," based on a predetermined set of rules, such as a specific percentage allocation change, he said, referencing recent"They showed there's really no difference from a value perspective," Watson said. "It's really about rebalancing versus not rebalancing.

You can rebalance with new contributions, including reinvested dividends, or by trading one asset for another. Watson generally considers aggregate investments across all accounts and makes the necessary changes in tax-deferred or tax-free retirement accounts. However, rebalancing in taxable brokerage accounts may provide other opportunities, particularly in a down market, experts say.," which allows you to offset profits with losses, said Ashton Lawrence, a CFP and partner at Goldfinch Wealth Management in Greenville, South Carolina.

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