You may be enjoying those lazy, hazy, crazy days of summer, but there shouldn’t be anything hazy about your investment strategy. The middle of the year may be a good time for a portfolio review. So pull out your investment statements, drag your lawn chair into the shade, and get started!

Up . . . or Down? For starters, you may want to compare your current statements with year-end statements from 2010 to find out how your investments are performing so far this year. If they’re gaining ground, you’re probably on the right path. But, if overall values have dropped, you might want to look for a reason. A drop in value could be the result of a temporary bump in the road, but it could also indicate problems with some of the investments within your portfolio.

The Big Picture. While checking your portfolio’s performance to date against its performance at the end of last year is important, don’t stop there. Comparing an investment to an appropriate benchmark index can put gains or losses in perspective. Generally, you’ll want to hang on to investments whose performance matches or outperforms a benchmark. Investments that are underperforming their benchmarks may need a second look.

To get a more complete picture of how an investment has fared, review performance over one-, five-, and ten-year periods, if possible.

Making Progress? You’re probably investing for something specific, such as college expenses or retirement. So you’ll also want to make sure you’re making good progress toward your goals with the investments you’ve chosen. If you’re not as far along as you’d hoped, consider reviewing your asset mix and making changes that may boost your returns while keeping investment risk within your comfort zone.

We’re always available to help you review your progress. Give us a call.

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Charitable Times What if doing one thing would help you fulfill three separate goals? If you’re required to take minimum withdrawals from your individual retirement account (IRA) but don’t need the income, you may be able to save taxes, help out a favorite cause, and obtain estate planning benefits by giving IRA assets to a charity. The Rules. For 2011, individuals age 70½ or older can donate up to $100,000 to charity from an IRA without owing taxes on the distribution. This treatment is beneficial because it keeps the IRA distribution out of your income, which may help you qualify for tax breaks that depend on income level. More Perks. Charitable distributions made in 2011 count toward your required minimum IRA distribution for the year. And, since it removes potentially taxable assets from your estate, making a charitable distribution from your IRA may be a useful estate planning strategy.