1 rich Libsyn https://www.libsyn.com 90 600 Investors often underestimate the risk in their portfolio.&amp;nbsp; Today, Laura Stover and Michael Wallin break down 5 common portfolio mistakes, as outlined by Christine Benz in Morningstar.&amp;nbsp; They are portfolio sprawl, when your assets often overlap and have too high a correlation A redundant individual stock portfolio can be risky as well. For example, if you are overly weighted in tech stocks, what happens if there is a chip shortage? Other risks include also-ran mutual funds, asset allocation not formed by the plan, and suboptimal asset allocation. It is crucially important to develop a plan that works for your individual situation, and stick to it.&amp;nbsp; This includes modifying your portfolio when necessary. Rate, Review and Subscribe to the Podcast: https://podcasts.apple.com/us/podcast/retirement-talk-podcast-with-laura-stover/id571347188 How to Connect: redefiningwealth.info lswealthmanagement.com Schedule a Review: https://redefiningwealth.info/schedule/ Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/ Rate, Review and Subscribe to the Podcast: https://podcasts.apple.com/us/podcast/retirement-talk-podcast-with-laura-stover/id571347188 How to Connect: redefiningwealth.info lswealthmanagement.com Schedule a Review: https://redefiningwealth.info/schedule/ &amp;nbsp; Timestamps (show notes): 0:00:49 Discussion on common portfolio mistakes 0:02:05 Portfolio sprawl and the importance of diversification 0:03:41 Redundant individual stock portfolios and the risks involved 0:05:59 The drawbacks of relying too heavily on mutual funds 0:07:51 The benefits of diversification and asset allocation 0:12:31 The impact of suboptimal asset location on taxes 0:18:39 The importance of dividing assets into income and growth 0:19:16 The need for a comprehensive retirement plan 0:26:45 The importance of tax alpha in retirement portfolios &amp;nbsp; Retirement Talk Podcast with Laura Stover https://redefiningwealth.info <iframe title="Libsyn Player" style="border: none" src="//html5-player.libsyn.com/embed/episode/id/27796398/height/90/theme/custom/thumbnail/yes/direction/forward/render-playlist/no/custom-color/88AA3C/" height="90" width="600" scrolling="no" allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen></iframe> https://assets.libsyn.com/secure/content/159313437