Your First Portfolio Review

Your First Portfolio Review — A Step-by-Step Beginner Workbook

Most portfolio review guides assume you already know what you're looking for. This workbook starts from zero — explaining what each metric means, what numbers are concerning, and how to apply the same framework at each annual review.

Why First Portfolio Reviews Feel Overwhelming

Coverage Ratios, NAV Stability, Payout Ratios — Too Much New Vocabulary

The workbook explains each metric in plain English before asking you to calculate it. You'll understand what you're measuring, not just how to measure it.

No Step-by-Step Process for Beginners

Most portfolio review content assumes you already have a framework. This workbook is designed for your first review — every step is explained, every calculation is walked through.

Not Knowing What's a Problem vs. What's Normal

Is a 5% NAV decline a crisis or a fluctuation? The scorecards and thresholds in this workbook tell you exactly which numbers require action and which are within normal range.

What's Inside

Chapters marked Most Relevant are specifically applicable to your situation.

1
Why Annual Audits Prevent Portfolio DisastersMost Relevant

The specific cases where quarterly auditors caught NAV erosion 6 months before it became critical.

2
The Holding-by-Holding FrameworkMost Relevant

A systematic review process for every position: yield, NAV change, coverage ratio, total return.

3
Coverage Ratio Worksheet

How to calculate and track coverage ratios for each holding, with thresholds.

4
NAV Stability Scorecard

A scoring system for each holding based on 12-month NAV trend and volatility.

5
Dividend Growth Tracker

How to track whether income is growing, flat, or declining on a position-by-position basis.

6
Payout Ratio Analysis

For REITs, BDCs, and MLPs — how to evaluate whether distributions are sustainable.

7
Rebalancing Decision Tree

A visual framework for deciding when to hold, trim, or exit a position.

8
Year-over-Year Income ComparisonMost Relevant

How to track whether total portfolio income is growing, and by how much.

8-step first portfolio review

Work through portfolio inventory, coverage ratios, NAV stability, distribution changes, and rebalancing decisions in a defined sequence.

Is This Guide Right for You?

This guide is for you if...

  • You've built a dividend portfolio but have never formally reviewed it
  • You want to understand coverage ratios, NAV stability, and payout ratios explained simply
  • You want a step-by-step process with clear thresholds, not abstract guidance
  • You're willing to spend 2-3 hours on a process that protects what you've built
  • You want the review to teach you the concepts, not just produce a checklist

This guide is NOT for you if...

  • You already have an annual review process you run consistently
  • You only hold Tier 1-2 index funds with no income-specific metrics to track
  • You're looking for a quick 15-minute portfolio glance rather than a systematic review
  • You want advanced analysis rather than a beginner-accessible introduction

Complete Your First Portfolio Review With a Process That Actually Teaches You

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