Your Benefits at Work: Check on Your Savings Plan Portfolio
Last year was a particularly volatile year for the stock market and investments. Have you checked in on your Transocean Fidelity Savings Plan account to make sure your mix of investments still aligns with your investment goals, time horizon and strategy? It’s particularly important to review your portfolio after big market moves—up or down—to evaluate whether your investments are still on track to reach your savings goals.
Here are a few ways to make sure you’re staying the course for a secure financial future.
- Review or create your investment plan. It’s critical to have an investment plan that includes investment goals so you know what you’re saving for, when you’ll need the money and what types of investments and risk you’re comfortable with. Once you have a plan, revisit it a few times a year and think about ways you can build your savings.
- Align your investment mix to your plan. If it’s been awhile since you reviewed your portfolio, there’s a good chance that the fluctuations in the market over the past year have changed your investment mix, which can take you off course from your plan. Depending on how your assets have shifted with the market, that could mean you have too much stock—and risk—or too little. Consider changing future contributions into the asset classes that are underrepresented or selling some of investments you have too many of and reinvesting the proceeds to get back on track.
- Assess your investment performance. Though it may seem obvious, it’s important to evaluate how well your investments are performing at least annually, if not more often. Is your Savings Plan account keeping pace with your investment goals? Have your investment funds performed as well as comparable benchmark investments over time? If not, you may need to revise your strategy either by saving more or making changes to your investment allocations.
If you need assistance with evaluating your account or have questions about making adjustments, schedule a one-on-one appointment with a Fidelity financial advisor. Upcoming appointments are available on August 18, from 9 a.m. to 5 p.m. Central time. Click here to schedule a session. There is limited space and spots go quickly, so make your appointment today!