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I recommend a rebalance every 18 months or so. More often than that, and you may be running up costs/taxes unnecessarily. Less often, and your original asset allocation will probably have changed dramatically.
You don't want this to happen unless your goals and risk tolerance have changed. Many experts opine that correct asset allocation is the most important factor in investment success.

If you originally decided a mix of, say, 70% stocks/20% bonds/10% cash was consistent with your goals/risk tolerance, then you want to stick with that. Since stocks will normally outperform bonds and cash, stocks are gradually going to consume a higher percentage of your portfolio. Since stocks' greater returns are predicated on higher risk, you are increasing your risk over what you originally decided it should be, if you are not rebalancing regularly.

As to keeping an eye out for taxes, two strategies to use are: 1) rebalance by putting new money into the underfunded categories, rather than selling your winners, and 2) if you do sell some winners, you may also want to sell some losers to offset your capital gains.

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