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Are my investments working for me

Building wealth is a balancing act between meeting your current financial needs and growing assets to achieve long-term goals. Any number of factors can get in the way, such as growing family bills, college expenses, home maintenance costs, and health-care expenses. Add to that the uncertainty inherent in the financial markets.

While no one can predict the future, a BMO Harris financial advisor can share strategies that can help you feel more confident in your plan. That way, you know you're doing all you can to grow your wealth and achieve your long-term goals.

How do I protect my investments from market changes?

In general, investments that provide growth also experience volatility. The careful balancing of risk and reward is one of the primary benefits of financial planning with a BMO Harris financial advisor. With our financial planning tool, you'll see the potential effects of market volatility on your portfolio. Working with your financial advisor, you'll identify your "loss cushion" — the maximum amount of money your portfolio could lose today without derailing your ability to achieve your most important goals.

Being confident in your financial plan means knowing when your portfolio can withstand a downturn and when you need to take action. Talk about financial planning with a BMO Harris financial advisor today.

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Is it time to revisit my investment strategy?

Clearly, whenever a major event takes place in your life, it's time to take a new look at your financial plan. But what about regular reviews? How often should you reassess your investment strategy?

In general, it's wise to evaluate your investment objectives on a regular basis, and make sure you're on target toward your goals. At minimum, be sure you:

  • Check your account statements monthly
  • Schedule quarterly reviews with your financial advisor
  • Ask your advisor to help you rebalance your portfolio at least annually

How often you choose to adjust your plan depends on what's happening in your life and with your finances. Talk with a BMO Harris financial advisor about setting up a schedule for portfolio reviews.

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How do I increase earning potential while minimizing tax obligations

From growing your assets to managing them in retirement, taxes can have a meaningful effect on your financial picture. A BMO Harris financial advisor can help you:1

  • Take maximum advantage of tax-deferred investments (such as employer plans and IRAs)
  • Explore tax-managed investment options to minimize taxable investment income
  • Decide whether to convert your Traditional IRA to a Roth IRA
  • Strategically title your accounts and name beneficiaries
  • Understand tax-efficient ways to withdraw income in retirement
  • Understand strategies beneficiaries can use to minimize taxes after they inherit

BMO Harris Financial Advisors does not act as a tax advisor. However, your financial advisor can work closely with your chosen tax professional to incorporate tax planning into your overall financial plan.

1 United States Department of Treasury Regulation Circular 230 requires that we notify you that this information is not intended to be legal or tax advice. This information cannot be used by any taxpayer for the purpose of avoiding tax penalties that may be imposed on the taxpayer. This information is being used to support the promotion or marketing of the planning strategies discussed herein. BMO Harris Financial Advisors, Inc., BMO Harris Bank N.A. and affiliates do not provide legal or tax advice to clients. You should review your particular circumstances with your independent legal and tax advisors.

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