If you have a mutual fund that isn't performing well, how do you know if you should hold 'em or fold 'em? Look at your overall asset allocation strategy first and see if the fund is still in line with your goals or not.  Then look at how much the fund is costing you.

Key takeaways:

• How soon do you need the money?
• Look at your risk tolerance instead of chasing past performance
• Make sure you are rebalancing your asset allocations
• Do you know how much the fund is costing you in load fees and administrative fees?