Step 5. Implementation & Monitoring
Your portfolio is now live.
Here's how we'll manage, monitor, and maintain it from here.
1. When Markets Drop- This is the Plan Working
Markets will drop. The urge to sell is human — but the drop is not the disaster. Selling into it is.
Your portfolio was built for this. When things feel scary, call me. We'll decide together, not in a panic.
2. The Early Years Matter
The timing of returns matters most early on. Strong markets create a compounding head start. Weak markets do the opposite — they can set you back for years and make the climb to long-term average returns much slower than people expect.
That's why I'd rather assume the worst upfront. Assume markets will be harder, returns will take longer, and the road will be less forgiving than the averages suggest. If things turn out better, great. But I'd rather prepare you for a tougher reality now than give you unrealistic expectations and disappoint you later.
3. Don't Watch the Scoreboard Every Day
The more you check, the more likely you are to react — and reaction is the enemy of returns. Put that energy elsewhere. That's where you actually move the needle.
Early 2020 made the case:
-20%
SPY investors, Feb-Mar 2020
(just two months)
+18%
Those who tuned it out finished 2020 up roughly this much.
Source: S&P 500 (SPY) total return, 2020.
The watchers lived through every inch of the fall — many sold at the bottom. We review performance together each Fall. That's enough.
Advisors can create the best portfolios in the world, but they won’t really matter if the clients don’t stay in them.
-Harry Markowitz
4. Don't Compare One Account to Another
Different accounts hold different models by design — retirement may run growth-focused while taxable runs conservative. Comparing them won't tell you much. And remember the tradeoff: the more conservative an account, the less it'll move in either direction. That's by design — lower volatility comes hand-in-hand with lower expected return over the long run.
What matters is performance at the household level. That's how we measure success.
5. Annual Rebalancing
Once a year, we rebalance back to your target allocations — selling what ran up, buying what fell behind. It keeps your risk profile consistent.
6. Performance Reporting
I track your performance in dollars and percentages. Reports are available anytime, but I prefer we walk through them at our Fall review. Numbers mean more in context.
You have just boarded the rollercoaster — don't jump off. The siren song of smart investing: this too shall pass.
-David Warshaw
7. Your Schwab Account
Your accounts are held at Charles Schwab. For best practices with account security, portal navigation, and using the mobile app, see our full Schwab Guide.
8. Beneficiaries — Don't Set It and Forget It
Is your beneficiary information up to date? Marriage, divorce, a new child, a death — any of these can change who should inherit. Your beneficiary designation overrides your will. Review it yearly. It only takes five minutes to update — right on schwab.com.
9. Tax Documents
Tax documents come once a year — look for them in the mail or at schwab.com. Pass them to your accountant. If you can't find them, reach out.
10. The Four Seasons of Planning Review
Remember, the portfolio serves your financial plan. We meet quarterly each season to focus on the topics below. If something big happens, let me know!
Winter
Retirement & Cash Flow
Spring
Tax Planning & Insurance
Summer
Estate Planning & Assistance to Loved Ones
Fall
Investment & Account Reviews