Spring Cleaning
Spring is in the air. For many, this means that it’s time for the annual house cleaning ritual but springtime doesn’t just have to be about sprucing up your home.  Now is a great time to get your investment house in order as well.  This time of year presents a great opportunity to formulate new goals, and to follow a few simple steps in pursuit of financial confidence.  Make it a priority to: consolidate your accounts, take advantage of tax-savings programs offered by your employer, rebalance your portfolio and review your list of beneficiaries.

Consolidate Your Accounts
Consolidating multiple retirement accounts into one or two may offer several benefits, such as convenience, and fewer fees.  Moving money to one or two financial services providers may help to make it easier to proactively manage your portfolio. Another benefit of consolidation is the possibility of uncovering old accounts.  Often older accounts are left unattended, even though they may contain investments that are no longer appropriate. 

Rebalancing Your Portfolio
As defined by the U.S. Securities Exchange Commission (SEC), “rebalancing” is the process of bringing your portfolio back to its original asset allocation mix.  Over time, the value of individual holdings in what was originally a well-balanced portfolio will ebb and flow as the markets rise and fall.  At some point, your portfolio may no longer reflect your intended objectives and risk tolerance.  If this occurs, sales and purchases may be needed to rebalance your portfolio.

Individual Retirement Plans or IRA
If you’re feeling the sting of unexpected taxes due, now is a great time to take steps to ease next year’s burden.  While the sting is still fresh in your mind, consider investing in a tax advantaged account, such as an Individual Retirement Account (IRA) or 401(k) plan.  Even if you’re already contributing to an employer-sponsored plan, you may be eligible to deduct all or a portion of your IRA contributions depending on your adjusted gross income.    
Beneficiary Designation
One critical piece of planning includes making sure you are properly set to transfer your retirement assets to your intended beneficiaries.  Changes in your family situation, which may include a marriage, divorce or birth of a child, make the review of your beneficiary designations a necessity.  Conducting a periodic beneficiary review may give you the peace of mind that comes from knowing that assets will go to your intended loved ones. 
Consult a Financial Professional 
As you prepare to review where you stand regarding your progress, it may be helpful to consult with a professional who can aid in making those informed decisions.
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CUSO Financial Services, L.P. (CFS) does not provide tax or legal advice. For such guidance, please consult your tax and/or legal advisor.