Lots of people wonder if they own the right investments, and it's natural to think about switching things up if you're not seeing the returns you hoped for. However, any big changes to your investment strategy should be based on sound analysis and your current plan.

In general, your investment decisions should be driven by a big-picture strategy that considers your goals, your feelings about risk, and your financial situation. Before you choose to buy or sell any investments, consider the following questions:

• Have your financial needs or circumstances changed? Change is an inevitable part of life. Whether it's a new job, a raise, a new family member, or a change in your relationship status, life events can have an impact on your financial situation and your goals. Revisit your investment strategy when significant events like changing jobs, having a child, or getting married/divorced occur. Consider, too, how they may affect your tax situation and whether the accounts you’re using to invest still apply.
• Have your investment timeline or feelings about risk shifted? Your financial timeline and risk tolerance are closely related. In general, the sooner you need your money, the less risk you may be willing to take on, and the more conservative you may want to be with your investments. The longer your time horizon, the more risk you may be willing to take on. This could mean using more aggressive strategies that target stocks, which are relatively volatile compared with bonds, for instance, but also may offer the potential for higher returns. It's always a good idea to chat with a financial advisor to see what might work best for you.
• Are your investments not performing well? It's easy to worry when your investments are going through a rough patch. However, ups and downs are a natural part of the market cycle. Your long-term plan accounts for volatility like this, helping you ride out bumpy short-term performance.
  
  Curious about how your investments compare in the long term? You can compare them with a relevant market benchmark. If your investments are falling short of their peers or the benchmark, your financial advisor can help you figure out why and discuss whether to make a change.
  
  Keep in mind, you cannot invest directly in an index. An index is unmanaged and not available for direct investment. Past performance is no guarantee of future results.
• Are your investments doing well? Investments that are outperforming can also change your portfolio. For example, if stocks do really well in a given year, they may become a larger part of your portfolio than you intended. If so, you may consider rebalancing your portfolio by selling stocks and buying bonds to realign your holdings with your original investment plan.
• Have there been changes in your funds? If you invest in a mutual fund, keep an eye out for changes in the fund's manager, size, or strategy. These changes could be positive, negative, or neutral. The key is to make sure the fund still aligns with your overall goals and makes sense for your portfolio and financial goals.

The bottom line: Investments shouldn't be impulse buys. Before you make any changes to your strategy, weigh the pros and cons against your current situation and goals. Regularly check your portfolio and consider working with a financial advisor to help ensure that when you invest, you make an informed decision.

Mutual Funds are subject to risks of the underlying investments in the fund. Investment returns may fluctuate and are subject to market volatility, so that an investor's shares, when redeemed or sold, may be worth more or less than their original cost.

All investing involves risk, including the possible loss of principal.

Investment products and services are offered through Wells Fargo Advisors. Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC (WFCS) and Wells Fargo Advisors Financial Network, LLC, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company.