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2020 Year-End Investment Portfolio Housekeeping

As we approach the end of the year, it’s a great time to do a financial self check-up and review your investment portfolio while there is still time to make adjustments, if needed.

An easy way to evaluate your investments is to review your net worth, which consists of your total assets (investments, property value, etc.) minus total liabilities (debts). This is a useful overview of your current financial standing and can help you identify where you can improve your financial situation. It is critical that you have favorable strategies to plan for your investments, retirement and tax impact to avoid any tax bill surprises, penalties or liabilities.

The first step is to look at your cash flow. Where are there opportunities to reduce debt, increase savings toward investments, or both? As painful as the pandemic has been, it did have a financial silver lining. Many people took the opportunity to cut out unnecessary expenses in order to build up reserves or make ends meet. Take the opportunity to evaluate your own financial situation to see if there are adjustments you can make to improve your financial standing.

Sarah Goldberg
Sarah Goldberg

Sarah is a seasoned financial market expert with a decade of experience. She's known for her analytical skills, attention to detail, and ability to communicate complex financial concepts. She holds a Bachelor's degree in Finance, is a licensed financial advisor, and enjoys reading and traveling in her free time.

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