Stock market is nearing records again. It's time for a gut check

Almost everything in your 401(k) should be coming up a winner.

- By STAN CHOE AND CORA LEWIS

Almost everything in your 401(k) should be coming up a winner now. That makes it time for a gut check.

Not only is the U.S. stock market setting records, so are foreign stocks. Bond funds, which are supposed to be the boring and safe part of any portfolio, are also doing well this year, along with gold and cryptocurrencies.

Many professionals along Wall Street are forecasting that the U.S. stock market will keep rising. But the threat of a sharp drop remains, as it always does.

That leaves investors with the luxury now, while prices are high, to reassess. Don't get lulled into leaving your 401 (k) on autopilot, unless you're intentionally doing so, and make sure your portfolio isn't stuffed with too much risk.

Here are some things to keep in mind:

The stock market is doing well?

Even after a few recent stumbles, the S&P 500 has soared from its low point in April, shortly after "Liberation Day."

"The market continues to [hit] record highs on the back of strong earnings and easing U.S.-China trade tensions," said Mark Hackett, chief market strategist at Nationwide, who calls the current state of "steady growth without irrational exuberance" a "Goldilocks environment."

If the market's so great, why should I worry?