Discover What You Already Own
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Discover What You Already Own
Maybe you can name all of your stocks and mutual funds off the top of your head and detail how each one performed last week. Good for you. But can you explain how they work together? Which are your core investments? Are you diversified? Do you have a lot of overlap? You must be able to answer those questions before you can see how (or even if) your portfolio fits your pattern.
Things To Know
- Do you know your core investments?
- You could use an online tool to figure out what you own.
You must do the math
To figure out exactly what you own, you could buy a financial calculator or investing spreadsheet, haul out the latest shareholder reports for your funds and account statements for your stocks, and calculate how much you have in cash, bonds, and various types of stocks. What a job! No wonder people don’t know what’s in their portfolios.
Or you could use a handy online tool
You could use a tool such as those offered by online research firms like Morningstar. Try using their Websites or portfolio tools to analyze what you own.
