Portfolio Rebalancing Strategy
Asset allocation is the primary driver of portfolio volatility and returns. Over time, as stocks grow faster than bonds, a 70/30 portfolio might drift to 85/15, drastically increasing your risk profile without your consent. Rebalancing involves recalculating the target allocations and buying/selling assets to hit those specific percentages again.
Rebalancing Mechanics
Periodic Rebalancing
Adjusting your portfolio on a fixed schedule (e.g., annually or quarterly) regardless of minor market fluctuations. Avoids overtrading.
Threshold Rebalancing
Rebalancing only when an asset class drifts by a certain percentage corridor (e.g., drifts 5% away from its target weight).
Tax-Efficient Allocation
Avoid triggering massive taxable capital gains by redirecting new cash contributions to the underweight asset classes instead of selling out of overweight ones.