Midyear Checkups: AAII Members Weigh in With Disparate Opinions

A lively exchange on performing a midyear financial checkup brought out wildly different philosophies among AAII members.

The midyear financial checkup thread in the Allocation Strategies Community sparked a lively, opinionated exchange among AAII members with wildly different philosophies. The discussion followed an article published in the July 2026 AAII Journal, “It’s Time for Your Midyear Financial Checkup” by Sam Levine, CFA, CMT.

Robert A. set the tone early, dismissing rebalancing as a concept “invented by financial advisers” to appear productive, preferring to let winners run indefinitely. Joseph H. and W. C. offered more moderate takes, describing periodic trims for profit-taking or tax-loss harvesting while living off dividends, Social Security and required minimum distributions (RMDs).

The conversation went deeper when John O. argued for allocating based on free cash flow rather than “manipulable” book income. Further down the thread, Michael D. asserted that free cash flow and the price-earnings (P/E) ratio are no longer relevant due to stock buybacks.

The thread captures AAII’s community spirit: There is no single “right” answer, but rather a range of hard-won, personalized strategies from investors with significant experience and wisdom sharing their perspectives.

Check out the full discussion thread and participate in others by joining the Allocation Strategies Community. Access to our online community forum is an included AAII membership benefit.

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