By Jim Stiles, Edward Jones Financial Advisor in New Haven, Mo.
We’ve just about arrived at spring, the time when many people spruce up their homes, yards and other parts of their surroundings. This year, why not extend that practice a little further and give your financial and investment environment a good “spring cleaning”?
Here are a few suggestions for doing just that:
Reduce duplication. If you’ve ever worked to “de-clutter” your home, you may have discovered a lot of extraneous items. Did you really need three blenders? Did you have more remote control devices than you did televisions? As you look through your investment portfolio, you might also find some duplication, perhaps in the form of multiple stocks of companies in the same industry. You might want to consider whether you’d be better off by reducing this concentration and using the proceeds to broaden your investment mix to create new potential for growth, income or a combination of both.