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Need to limit my account viewing.
Old 03-26-2024, 09:18 AM   #1
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Need to limit my account viewing.

I'm going to try to stop looking at my account balance every day. Starting April 1st, after I do my 1st quarter analysis, I'm going to try to not look at my account until next quarter. Wish me luck.

I'm trying to break a habit and also reinforce that I'm on auto pilot and there's "nothing to see here". Certainly not on a daily basis. I'm going to look into Fidelity and see if I can hide my retirement accounts. I need to look at my main account because that's my day to day money but everything else needs to be out of sight, out of mind.
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Old 03-26-2024, 09:20 AM   #2
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Sounds like you have too much time on your hands. Maybe a new hobby or activity will help.
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Old 03-26-2024, 09:21 AM   #3
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I monitor - for security reasons.

That's my story and I'm sticking to it.
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Old 03-26-2024, 09:23 AM   #4
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I've been checking our retirement account balances almost daily for the last few years. Like you, I've been trying to space that out a bit lately. I'm down to once or twice a week now. Eventually I might get to once a month or so.
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Old 03-26-2024, 09:27 AM   #5
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Yes, you need other things to do to distract you and form a new habit.

I have to manually download data into my old Quicken these days importing via an intermediary spreadsheet, so I only update asset prices about twice a month.

However I still check and reconcile all statements from several financial institutions as they come in - that’s the security part.
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Old 03-26-2024, 09:30 AM   #6
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Wow. I have never checked daily or even weekly. Maybe monthly at one time. Nowadays I log into Vanguard once a quarter to
  • see/record dividends/STCG for estimated tax planning,
  • update my net worth spreadsheet, and
  • see if I need to rebalance (rarely).
I see what the markets are doing every day on PBS or online, so if something drastic happens I can look at my account, but my balance will roughly follow markets so I almost never bother.

The only other times between quarters that I log into Vanguard is
  • to buy/sell when a treasury matures or
  • twice a year for Roth conversions (in Jan and again in Dec).
Security? Right or wrong, I assume every time I log in I create an opportunity for a hacker, so I log in as infrequently as possible and delete my history immediately after. YMMV
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Old 03-26-2024, 09:49 AM   #7
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When I was saving/working, I would spend the friday morning of payday every two weeks updating my personal spreadsheet after looking at everything.

But since retiring? No schedule, can often go weeks or more, especially if I see folks here talking about a good day on the market - I like to see the good stuff!

You don't "need" to look at your day to day (checking/savings?) on a daily basis. If you feel that need, perhaps move your daily cash over to another online bank.
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Old 03-26-2024, 09:54 AM   #8
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When I quit trading equities and went 100% fixed income, I quit looking all the time. I'm probably still logging on a couple of times a week to check what CD rates are doing but right now, I couldn't even tell you what my balance is. I do know it just keeps going up. No more ups and downs.

Plus, I have regained several hours a day not having to keep up with markets so much.
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Old 03-26-2024, 09:54 AM   #9
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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

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Old 03-26-2024, 09:55 AM   #10
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I look at my checking and savings accounts daily. A friend of mine had her B of A account robbed of 20k. They refused to reimburse her because she didn’t notice it for 48 hours. They told her it needed to be reported within 24 hours. She filed a police report and intends to hire a lawyer to help get her money back. If I banked there I would be leaving.
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Old 03-26-2024, 09:58 AM   #11
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Originally Posted by Teacher Terry View Post
I look at my checking and savings accounts daily. A friend of mine had her B of A account robbed of 20k. They refused to reimburse her because she didn’t notice it for 48 hours. They told her it needed to be reported within 24 hours. She filed a police report and intends to hire a lawyer to help get her money back. If I banked there I would be leaving.
Interesting, we automatically get instant alerts from BoA on any transaction over whatever amount we choose - I think DW has it set at $150. We would have noticed and alerted the bank instantly if someone made a $20 K withdrawal. We get immediate alerts on our credit cards too (IIRC she set those at $75), so we’d report anything suspect there immediately as well.
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Old 03-26-2024, 09:58 AM   #12
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I'm not that sure that monitoring your investments is a bad thing. I check my three Vanguard accounts on my smartphone most weekdays.
I almost always have buy limit orders outstanding and I might want to change the limit price, depending.

Three times a month, I have money hitting my checking account and I generally pull the excess into my Vanguard taxable settlement fund.
So anyway...
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Old 03-26-2024, 10:00 AM   #13
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Originally Posted by MarieIG View Post
I monitor - for security reasons.

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

FYI Fidelity, and probably the other major brokers have active security monitoring and will send you a text message and an email the second any withdrawals are made from your accounts that you have locked down.
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Old 03-26-2024, 10:18 AM   #14
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I monitor retirement/investment accounts monthly. Occasionally look more often, if "the market" is going crazy--nice to see it go up, but it can just as quickly go back down!
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Old 03-26-2024, 10:39 AM   #15
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Ha. I'm very guilty of looking at my accounts a few times a day, sometimes several times. I'm extremely disciplined in that I don't make any moves, but it's just a habit I have and have been doing it for years.
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Old 03-26-2024, 10:46 AM   #16
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I look at my account daily, primarily during my "me time" in the early morning hours before anybody else is awake. Look at data, update spreadsheet, and then move on to something else.

Merely looking isn't a bad thing unless you're prone to make decisions based on what you just saw or if you feel it's become some sort of unhealthy obsession.

Cheers.
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Old 03-26-2024, 11:12 AM   #17
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Some would consider checking your balances daily an unhealthy obsession.

I check balances once or twice a month. I have a stock ticker on my phone so I can see changes instantly.

If you feel the need to check your holdings daily, maybe you should track a penny stock such as Atari PONGF whose stock price frequently goes up and down 5-15% every day! That should desensitize you.
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Old 03-26-2024, 11:29 AM   #18
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Quote:
Originally Posted by Midpack View Post
Interesting, we automatically get instant alerts from BoA on any transaction over whatever amount we choose - I think DW has it set at $150. We would have noticed and alerted the bank instantly if someone made a $20 K withdrawal. We get immediate alerts on our credit cards too (IIRC she set those at $75), so we’d report anything suspect there immediately as well.
Right, we also get alerts from all financial institutions for every withdrawal, deposit, credit card charge above $X, bill paid, bills due, transfer, order filled, etc. It’s very nice getting these timely notifications.
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Old 03-26-2024, 12:08 PM   #19
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Don't worry, I've been monitoring your accounts daily. You're in good shape. Plenty $$$ in there.
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Old 03-26-2024, 12:33 PM   #20
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I monitor - for security reasons.

That's my story and I'm sticking to it.
I do too; once a month. But I doubt I could tell you what the last balance was or how individual items were performing -- even 1 minute after logging out.
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