[jIM_Ohio]

I would start by saying you need a baseline. A spreadsheet might help you track this.

Across the top label the account types. For me- Roth, Rollover, 401k, savings account (CDs) and a taxable account as well.

You want 3 groups of columns. First group is account balances. So list account balances for all of above (401k, IRA...). Second group is deposits. List deposits for all accounts. Third group is rate of return calculation.

Then going down the spreadsheet put your dates in on the left side. Then plug numbers in for each quarter (deposits and balances) and then have spreadsheet spit out a rate of return. Check return a few ways-
1) overall portfolio return
2) account return (return of 401k investments vs return of IRA investments)- this is important for asset allocation and similar.

Then have another IRA spreadsheet. List all funds in IRA and the theoretical percentage of each (asset allocation). If you keep different asset classes in each account (such as large cap in IRA and small cap in 401k) then this is harder.

Each of my accounts has the same 45-15-15-15-10 allocation. So when I analyze my IRA, I don't need to worry about 401k allocation at all- greatly simplifies the "next steps".

Actions to take:
I would NOT buy/sell (rebalance) each quarter. What I might do is
a) in April, July and November change the contribution percentages in an effort to rebalance. Buy LOW.
b) in Janurary SELL what is high to rebalance and modify the contributions to align to allocation.

I rebalance twice. June is about contributions and January is as I describe to you. One thing I am considering is rebalanceing less than annually (because most bull runs are more than 12 months long), so I might only sell every 18 months.

Depending on age, maybe sell 1% of allocation a) (stocks) and buy 1% of allocation b) (bonds) to slowly move monies to more stable investments. I would only do this if you are aggressive now, and want to move to a more moderate allocation later. In 5 years, you would be moving from x% bonds to x+20% bonds.