Your 3-Point Midyear Financial Checklist

It's been a rocky few months and an unquestionably difficult year for most of us thus far, but that doesn't change the fact that we're midway through 2020 and it's time to give your finances a closer look. Here are a few moves to make so you can see where you stand regarding money and how you can take steps for improvement well before the end of the year.

It's always a good idea to have a well-diversified portfolio -- especially now that we're in a recession. But current economic conditions aside, your portfolio should contain a mix of stocks and bonds (ideally, much heavier on the former if you're fairly young), and within the stock category, an array of companies from different industries. That way, if, say, auto stocks tank at one point this year but only comprise 8% of your portfolio, you won't get burned too badly.

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Source Fool.com