- 1). Hold on to all paperwork and documents that you get from your stockbroker, mutual-fund firm or financial adviser. When receiving trade confirmations and holding statements, make sure they are accurate. Contact your investment firm if the numbers don't square. See 232 Organize Important Documents.
- 2). Take good notes. Jotting down comments from your stockbroker or investment adviser whenever you talk to them can come in handy down the road if you have a discrepancy or a problem with your account. Careful record-keeping has jogged a lot of memories on Wall Street over the years.
- 3). Assign someone to handle your investment documents and make sure to have copies of all documents sent to your proxy. If you're injured, sick or otherwise disabled, keeping careful accounts of your portfolio's performance is more critical than ever.
- 4). Ask tough questions. If you don't understand your investment statements or you have a problem with some of your portfolio's performance numbers, speak up right away, loud and clear. Don't wait until it's too late to do anything about it and don't be embarrassed by what you don't know.
- 5). Get cyber-savvy and easily track your investments online with your bank or brokerage house. You may need a personal identification number or other password to gain access to your portfolio online (most fund companies and financial advisers offer such access). The immediate access is invaluable.
- 6). Review your portfolio at least twice a year; quarterly is preferable. Check to see whether you're on the right path to meeting your financial goals. Assess risks and look closely at how your investment portfolio is diversified. If you're overemphasizing one stock (Wall Street people call that the Enron effect), consider selling some of the stock to balance your portfolio.
- 7). Meet face to face at least once a year if you're working with a financial adviser or stockbroker. An annual visit where you shake your broker's hand and look him or her in the eye can ensure that you remain a priority. You don't want to be out of sight, out of mind.
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