How to Do Year-End Assessment of Your Personal Finance Portfolio - Singapore News

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Here’s a step-by-step guide to help you through your portfolio assessment.

The end of the year is generally a good time to take stock of things because, new year, new start, right? Doing regular reviews of your financial portfolio can help you stay on track with your financial goals, be aware of your spending patterns, and even alert you to any unpaid debt or tax responsibilities. You get to take a critical look at your goals and milestones and pinpoint potential growth opportunities.

You can then assess if your current portfolio balance and expected contributions over your time horizon will still put you on track to achieving your financial goals. Diversifying your assets is the best way to mitigate your portfolio’s volatility and potential risk as the losses from poor-performing assets can be offset by the other better-performing assets. If you feel that your current asset mix is not serving you, you might want to revise it while taking into consideration your financial circumstances and the market dynamics.

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