Good Friday Message
It is Good Friday and markets are closed in observance of the Christian holiday. We will be back to trading at 6:30 AM Monday morning. So, take the day off from worrying about your well diversified portfolio and enjoy yourself.
With that said here’s your wealth building tidbit of the day.
When markets are going up like they have been for the last eight years it is a human tendency to not worry about our investments or whether we are properly positioned for the long term. But it is exactly at this time that you need to be thinking about making changes, if there are warranted.
Too many people wait until it is too late to make adjustments in their portfolio that will protect them for the long term. When things are good is the time you should be making changes, not when it feels like the world is coming to an end and falling down around our ears.
I am not talking about trying to time the market. What I am talking about is making sure that your risk tolerance is appropriate for your age and circumstances. I am talking about making sure you’re well diversified. I am talking about making sure that you own high-quality securities not a bunch of junk.
When the inevitable market correction comes, and it will, it will be too late to get your house in order. While markets are still healthy is the time to get things in line.
So take action now to be in a better spot when markets turn. But first enjoy the holiday and a blessed Easter to all.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.