When the pandemic began in March of 2020, some doctors elected to sell their stocks and go to cash for fear of the unknown. What a mistake! Those doctors missed out on some, or all, of the huge and unforeseen stock market rally that ensued. Despite the devastating economic effects of the pandemic, and record federal spending and related budget deficits, the stock market (as measured by the S&P 500), gained more than 56% over the year ending March 31, 2021.

Once again, this proves the futility of trying to time the stock market. However, with the stock market at record-highs, it’s time to review your portfolio and consider strategies to safeguard your gains by making sure you are...