Need to limit my account viewing.

[target2019]

At the end of each month, beginning March 1990, I have recorded account and fund totals. Maybe each quarter we sit in my office and look at what was, and discuss the future playing out.

Just the other day we also checked my tax prep numbers against the delivered forms, and hit the e-file button.

I'm very comfortable with investments and finances now, after much reading and analysis. My goal is to leave her with as much understanding as she wants and needs.

During the week I sometimes look at details out of curiosity, but more so to follow ideas about individual companies, or look at stocks mentioned here and there. I occasionally invest in something new, with play money.

Others are free to pick management solutions, and enjoy the fruits just the same as we do.

The up and down movements of our account on a monthly basis are very much in line with what we see when glancing at stock and treasury movements in the media. It's the asset allocation (AA) doing what it does.

Our invested assets do lose very small amounts that a pure index would not. We also save on the management side (some say 1/4 of real return yearly).

I realize some have a problem with too-much-looking. But there are real benefits, I feel, if you stick with the AA as a lighthouse.

1. Finding an incorrect or un-expected transaction is something. What is measured is managed. No need to add up everything to find calculation errors, but finding the odd-looking number may be an important clue.

2. In my mind I've managed this by putting myself on the stand, and imagined having to explain how it all works. For that reason, I'm on a path of simplification, eliminating complexity, so that the total portfolio becomes something of an example for my spouse and children. Some of the funds that AUM would force me to use are just not necessary, IMO.

3. Related to #2, I slowly involve my children more and more in this. To some extent they will need to step up and encourage my investing principles remain as is. Over a 5-10 year period, it's been educational for them, and I see their principles slowly changing too.

4. We oversaw the in-law's finances, so I have a very good idea about what it means to have AUM. I never felt comfortable looking at it, but some do. Either way you get to the promised land.

 

[sengsational]

In my view, this issue is not looking at your account every day, but what the emotional result is of looking at your accounts every day. .

I'm a low frequency peeker based on responses so far and find the "in your face" daily red/green quite annoying. And I'm annoyed that I have to encounter that on my way to Fidelity Elan Visa account. I tell myself to ignore it, but I'd rather not see it at all; daily change is meaningless.

I'm retired! What else have I got to do!

If you find it entertaining every day, go for it! I find it barely entertaining monthly.

I have been totaling my investments on a monthly basis for decades.

In support of my asset allocation rebalancing procedure, I've been doing the same. I've got automation (that breaks all the time because web sites change) that I run at the end of the month. This tells me if the AA is far enough out of whack to rebalance.

Then the second monthly duty, which is less fun (takes more time) is to reconcile statements in my PC software. I've got some automation there too (downloading PDF statements). I even wrote a PDF parser for Fidelity, which was about ten times harder than I thought it would be, LOL! But doing statement reconciliation is so tedious!

Curiousity simply doesn't enter into it. I do end of month scrape to know if rebalancing is needed and statements to know if any transactions during the month are unexpected.

 

[marko]

If you find it entertaining every day, go for it! I find it barely entertaining monthly.

I find it more than entertaining. I find it educational (answers often found on this forum), relaxing, interesting and fun. It's more or less my RE hobby, not that I make any major changes YoY.

In fact it would be less educational if I made a lot of changes unless I were to keep dual 'before and after' books. (Ok, I do that anyway on my very few adjustments)

Kinda grew up in an environment where the 'day's results' were discussed at family cocktail hour...a tradition DW and I try to continue (at least the cocktail hour part).

 

[ERD50]

There can be no doubt this is the case. Checking frequently leads to the impulse to act. The less people look the less they feel compelled to act.

I think that's too broad a brush.

I typically look several times a day, and first thing in the morning is just part of my routine - I'm just curious what's going on, a big swing in the market makes me want to check the news to see what's going on.

But I've never acted on a daily or short term swing. If the market's been on a trend for a while, I might check to see if I want to rebalance, but I do that rarely (as in years apart).

IMO, the OP's 'problem' is one of attitude/approach. Better to rethink their approach towards long term investing than just modify their behavior to try to 'trick' themselves into inaction.

But hey, whatever works for you I guess.

-ERD50

 

[PatrickA5]

I look at my investments, checking and credit card accounts every morning as part of my coffee routine. I also update Quicken almost every day. I do find when I'm on a trip somewhere, I don't tend to check often.

 

[ERD50]

I have no reason to doubt the statistics, but I, for one, look at it almost every day and rarely take any action. When I do take action, it is because the AA got out of whack, or I finally decided what I will sell to generate needed cash. ....

Right, I think it's a little humorous/ironic that statistics are quoted to make a point for something like this.

If we draw on statistics, we could say:

1) Don't use credit cards, statistics show that people are paying high fees and interest, and spend more due to easy access. But.... this group knows better. (and others can learn).

2) You need to pay a 'pro' like EJ to help with personal finance, statistics show that most people feel investing is too complex and too much effort. But.... this group knows better. (and others can learn).

3) You don't want to delay SS, take it as early as you can, or at least at FRA. But.... this group knows that's may not always be the case. (and others can learn).

4) You can't go into retirement with a mortgage! You have to pay off your house! But.... this group knows that's may not always be the case. (and others can learn).

etc, etc.

I don't let what the masses decide influence my behavior, or I'd have worked until 65 at least.

-ERD50

 

[foxfirev5]

Look but don't touch.

 

[LateToFIRE]

I monitor - for security reasons.

That's my story and I'm sticking to it.

+1, me too. That's exactly why I look.

 

[LateToFIRE]

Look but don't touch.

Ha ha, that's what I've been doing for 30 years! But, soon the touching will be starting. I'm feelin kinda squeamish about it. I'm gonna have to close my eyes when I do it. Let me know when its over.

 

[LateToFIRE]

Ok, to be serious for a moment, I do check at least daily: (1) For fraud, as we've had some near misses in the past, and (2) Because I will be moving from advisor-managed to self-directed soon and educating myself on what exactly it is I have, and (3) I just enjoy watching it. Of course the watching has been easier when it's going up.

 

[Jeffman52]

I am not quite retired yet and I look at my accounts daily. I update my personal spreadsheets weekly with new numbers.


After retiring I have no plans to stop. Its not because I am stressed, its because I am a numbers guy and I like to know if my plan continues to be on track. Thinking further, if something goes hokey with my accounts, I would want to know NOW, not a month from now.

 

[LateToFIRE]

I am not quite retired yet and I look at my accounts daily. I update my personal spreadsheets weekly with new numbers.


After retiring I have no plans to stop. Its not because I am stressed, its because I am a numbers guy and I like to know if my plan continues to be on track. Thinking further, if something goes hokey with my accounts, I would want to know NOW, not a month from now.

+1, you described my approach precisely and expressed that better than I could.

 

[latexman]

In the morning, I look "a time or two, and I didn’t like it. I didn’t inhale it, and never tried it again.”

 

[foxfirev5]

Ha ha, that's what I've been doing for 30 years! But, soon the touching will be starting. I'm feelin kinda squeamish about it. I'm gonna have to close my eyes when I do it. Let me know when its over.

OK, But if you must, never touch the principal.

 

[OldShooter]

Look but don't touch.

Funny. DW is on a nonprofit board (one of several) where the the strategy they teach new board members re organizational governance is: "Noses in, fingers out."

 

[foxfirev5]

Funny. DW is on a nonprofit board (one of several) where the the strategy they teach new board members re organizational governance is: "Noses in, fingers out."

Nice. I would want them managing my affairs.

 

[jebmke]

Funny. DW is on a nonprofit board (one of several) where the the strategy they teach new board members re organizational governance is: "Noses in, fingers out."

people often get confused on the distinction between governance and management. Having management people on boards, especially as chair isn't helpful in that regard.

 

[JBTX]

Personally I would not be comfortable only checking quarterly or even monthly for security purposes, given the environment of cybercrime. I use quicken and run anywhere from every couple of days to maybe a week.

 

[Qs Laptop]

I don't log into my Fidelity brokerage account to look at my balances very often. I do look at Yahoo Finance every day. I have some equities I own set up in a portfolio there plus a watch list that I look at every day.

 

[LateToFIRE]

Funny. DW is on a nonprofit board (one of several) where the the strategy they teach new board members re organizational governance is: "Noses in, fingers out."

I'm on a non-profit board where a former Executive Director used to repeat that phrase (in reference to Board's role). I get it, but still HATE that saying.

 

[splitwdw]

On the road to FIRE still, so I watch every blip and bleep on a daily basis.

I do keep a spreadsheet that I update once per month for total investment, credit card expense and bank account balance-been doing that for years and years.

These are things I like to do...so i haven't really thought about changing the habit. I don't get stressed by the day to day noise..if that's not you, changing the daily habit to weekly or monthly might be better for your stress levels

PWF

Still working and accumulating and I check my accounts a couple times a day. I am use to the ups and downs and do not sell stocks when the markets are going crazy. I'm in my early 50's and don't trade as much any more. Playinwith fire is right, don't look as often if it is stressing you out. I'm thinking about taking early retirement this summer and don't know if that will change how often I look at my accounts.

 

[Andre1969]

I don't always add my totals up every day, but I do check the overall market every day. And if it looks like it's going to be an especially good day, that might push my totals to a new high, I'll definitely add everything up after the market closes.

I did hit a new high on March 21, but after that things got a bit choppy. Yesterday the 27th though, when the market shot up later in the day, I definitely added it up. Another new high, but it wasn't much better than the 21st.

I'll definitely add everything up tonight, since this is the last trading day of the month. I always keep the month-end totals for my spreadsheet.

I'll admit, I used to notice that stock market swings did affect my mood a bit, but these days, that doesn't bother me. I could "lose" five figures in one day and it won't faze me, but then I'll still gripe when some minor item I need to buy costs a few bucks more than I thought it would!

 

[iloveyoga]

I have checked my IRA/401(k) balances frequently for many years. I know in my head what the amount should be (fairly close). When I know things are down a bit, I may wait a few days to look. When the market is up, I look more often. I average 3 times a week or so. I check my checking account daily though.

 

[Dash man]

I check every day, multiple times a day. I never panic sell, which is one reason we’ve done well with individual stocks and some ETFs. I don’t automatically reinvest and selectively reinvest dividends and interest in our retirement accounts. Taxable account dividends are moved to our spending account. Interest in our taxable accounts are invested in stocks. I look for opportunities if a stock hasn’t been performing well to sell and purchase a new stock, but research before I make any changes. Eventually I’m going to simplify everything as we age, but for now I enjoy it.

 

[LateToFIRE]

OK, But if you must, never touch the principal.

Thanks. Excellent suggestion. Touching the principal would be just completely gauche.