6. Do rebalance your portfolio

With the tremendous gains in the stock market so far this year, your portfolio might be overly allocated to equities if you haven’t rebalanced lately.  The problem with letting your equity allocation just run with the market is that you may be taking more risk than you had intended or more than is appropriate for your situation.

Rebalance with a total portfolio view.  Use tax-deferred accounts such as IRAs and 401(k) s to your best advantage.  Donating appreciated investments to charity can help.  You can also use new money to shore up under allocated portions of your portfolio to reduce the need to sell winners.

7. Say yes to retirement planning

As you get closer to retirement, it becomes increasingly crucial to pay attention to how you are doing and whether you are on track.  When you have that date in your mind, it can be very disheartening to feel like you are not ready when you get there.  If changes are required, such as budget adjustments or moving the date, it is much easier to make them earlier in the process. 

You should review your plan at least annually, including the federal annuity, Social Security, TSP, other investments, and anything else that will have an impact.  These issues can be complex, and consulting with someone with expertise in this area may provide peace of mind from knowing you are on the right track.