It’s Time to Clean Your Investment Portfolio

There’s nothing like the start of a new season to inspire you to cleanse your space. But this time, we’re challenging you to go beyond your junk drawer and your broom closet.

That’s right: It’s time to clean your investment portfolio.

It’s easy to put these tasks off. That’s why we put together this guide for you so that no matter the season, or state of your portfolio, you can give it some extra TLC.

Dusting Off Your Investment Portfolio

When was the last time you checked up on your investment portfolio?

We’re not trying to put you on the spot—you might just need to do a quick check-in. This may include:

• Getting your papers in order
• Keeping a refreshed to-do list within reach
• Checking up on your investments

And these resources are the perfect place to start.

Deep-Cleaning Your Investing Portfolio

Remember what we said about how easy it is to put these things off?

The secret can be summed up in three words: Keep it simple. With these step-by-step tips and lessons learned from Morningstar specialists, your portfolio will be shining like new.

New to Investing? How to Set Up Your Investment Portfolio

This is an opportunity to check in with yourself beyond your financial status. Why are you investing?

Money and investing are personal: All of us have different milestones, dreams, and needs. Let’s start imagining what we can do with this blank canvas with these steps from senior behavioral researcher Samantha Lamas:

1. Wish: To start, imagine your wish. This should be a goal that is challenging but still within reach.
2. Outcome: Next, imagine accomplishing that goal. In a few words, write down a few good outcomes of achieving this goal.
3. Obstacle: Now, it’s time to bring things back to reality. Identify a few obstacles that are blocking you from fulfilling that wish.
4. Plan: With those obstacles in mind, create a series of if/then statements to help you prepare for those obstacles before they happen.

This is an empowering part of your life, but we know it can be intimidating. Here’s how to get started.

Transitioning Your Investment Portfolio to Support a New Life Stage

The seasons of our life don’t follow a calendar. The transition to a new life stage offers another opportunity to revisit your investment portfolio.

Maybe you just retired. Or maybe you plan to in the next decade. Maybe you’re a new parent who wants to balance saving for college and your retirement at the same time. Or maybe you just made a large investment, like buying a house, and need to rethink how you can juggle your financial goals (and bills).

These insights from Morningstar specialists can help you catch up or anticipate the next step you need to take on your financial journey.