Do big swings in your portfolio value during a volatile market like we have been experiencing keep you up at night? Do portfolio losses in a down market or not enough gain in an up market concern you? If so, this blog post is for you. We have added a tool on our website that allows you to find out your financial risk score. Why would you want to know what your score is? Well, once you know your score you can then compare it to the risk you are currently taking on your portfolio. In my experience, the two rarely match. What that might mean is that you are taking too much or too little risk in your portfolio compared to the risk you are comfortable with, (the risk score). When the markets are doing well this might be less noticeable. However, when markets are volatile like they are now and your portfolio is experiencing big swings that make you uncomfortable, then there is a good chance your portfolio does not match the risk you are comfortable with.
One of our strategic investment partners, Dunham and Associates, has provided us with Riskalyze, which is a software tool that asks 10 simple questions to determine your score. It takes only a few minutes to find out this very important number. We have made this tool available to you for free. Simply hover the cursor over "Tools" above and then click "Know Your Risk Score" to get started. The 10 questions are multiple choice and take less than 5 minutes to complete.
Please note, we do not ask for any personal information. You remain anonymous. After you see your score and click "Finish", you will be provided an ID number that's attached to your risk score. We will also receive an email with your ID number. If you feel that your risk score does not match your current portfolio and you have concerns, please contact us so we can explore a strategy to align your portfolio with your risk score. Simply provide us with your ID number so that we can match your risk score to you.
Also note that should you decide to answer the 10 questions, you will be leaving our website. The Riskalyze questions are actually hosted on Dunham and Associates website. Again, neither we or Dunham ask for or collect any personal information. Please remember to jot down your ID number should you decide you may want to speak with us in the future.
OK, that's it. This is a short blog post but an important one. Thanks for reading. Please take a few minutes to answer the questions. Most importantly, stay safe...especially as stores are beginning to open again.