Along with the ideas discussed in our video, below are some steps you can consider to help prepare for the road ahead:
1. Be certain your portfolio is well diversified and includes a combination of stocks, bonds and cash that is most appropriate for your own goals and life priorities.
2. Keep in mind that the markets could be volatile, especially as interest rates begin to rise. Now is a good time to review your current and future cash flow needs and develop a plan that will help you meet them, including those times when the markets could be particularly rocky.
3. Make sure you have a solid understanding of what your goals are and work with your Advisor to help you develop a plan for pursuing them. No matter what the markets may bring, this step will help you stay focused on what you really want your money to do for you.
3 Questions to Ask Your Advisor
- How might rising interest rates affect my fixed income portfolio?
- Could high-quality, dividend stocks help me meet my need for income?
- Is my portfolio protected against a possible increase in volatility?