After you invest
At least once a year you should check if your investments have grown and decide if you need to make any changes. Some investments like shares may need to be reviewed more than once a year as there may be unexpected sharp changes in stock markets.
Why should I review my investments?
A regular review will help you:
- ensure that you are on track to meet your investment goals or possibly help you reach them sooner
- potentially make tax savings
- avail of cheaper and better rates and deals that may have come onto the market in recent months
- ensure that the return you are getting is at least equal to, if not better than, inflation
How often should I review my investments?
- You should set a review date at least every year. A good idea could be to set a review date two or three months before the end of the year in order to make sure that you make the most of any tax allowances you may be entitled to.
- If you invested in a fixed-term financial product like a tracker bond, set up a reminder to do some research a month before investment matures to see what offers are on the market for you to reinvest your money in.
- You should also carry out a review if an unexpected event happens such as a sharp change in the stock market or interest rates, or if you receive a lump sum payment that you want to put away.
If you decide to make significant changes, you should seek independent financial advice.
Last updated on 13 September 2021