It’s Time to Take Action!

By: Anthony S. Layton

It’s important to take stock of the impact the market turmoil has had on your overall financial plan. What do the past year’s results mean in terms of achieving your retirement or estate planning goals? How have shorter term goals such as funding a child’s education been affected? Your PWL advisor can help you determine the strategies needed to get back on track.

Changing your asset mix to less risky assets should not be the starting point. Instead, we believe you should start with reviewing your overall financial plan given the recent market volatility. The process of reviewing your objectives will clarify your financial planning goals, wherever you may be in the cycle of market emotions. Being proactive by reviewing your financial plan will produce better results in the long-term than being impulsive. Sometimes the best plan of action is to do nothing even though your instincts may tell you otherwise and panic selling may put your long-term goals out of reach.

Now is an excellent time to review your financial plan and take advantage of the opportunities that exist today and that will develop in the months to come.