Time To Check in On Your Investments

Financial wellness is easier when you take it one step at a time. We’re simplifying things by giving you Just One Thing to do this month: check in on your retirement accounts (like your 401(k) or IRA).

When you first set up your accounts, you likely chose a specific “mix” of investments. Over time, the natural ups and downs of the market can cause that mix to shift out of place. This month, your goal is to make sure your money is still working for you how you intended.

• What to do: Log in to your retirement accounts and see if your current balance still matches your original plan. If it’s drifted too far, you can “rebalance” it to get back on track.
• Who it’s for: If you use a “Target Date Fund” or an automated “Robo-advisor,” this is usually handled for you. However, it’s still smart to take 30 minutes once a year to make sure everything looks right.

The Bonus Step: While you’re logged in, check how much you are contributing. Are you getting your full employer match? That is essentially “free money” for your future. If you can, try bumping your contribution up by just 1%. That’s a small change today that makes a massive difference for your future self.