Don't look at your investments too closely.

[JoeWras]

Earlier reporting of any fraud is always best. Even for cash, transfers usually take a few days, and brokerages usually put limitations on transactions after transfers for a few more days or a week.

If you report fraud during that time frame, it should go smooth because the securities or cash never went anywhere. Nobody is out money, so you should get fast cooperation.

If you wait too long, the thief could have sold the stocks or transferred out the cash. That naturally will require a lot more investigating and more information from you to prove it was an identity theft.

This is why it pays to look frequently a your accounts.

 

[NW-Bound]

I remember seeing a sign posted at my dentist office: "No, you don't have to floss every tooth, only the ones you want to keep".

An analogous saying for this thread is "No, you do not have to do a frequent check of all of your accounts, only the ones you are afraid of losing".


I don't know when this ACATS was in effect, and what was used before it. But I have made a few account transfers over the years, and the only time the old broker called me was to ask for the reason I was not happy with his firm.

I told the old broker it was simply because the new broker offered me much lower trading costs. This was of course before the time everybody offered free trading.

With Quicken, I always do a complete account download of all checking, credit card, IRA, brokerage accounts every day. There are a few accounts that have no Quicken connection, such as Treasury Direct, an HSA, and a couple more MF accounts. I do admit that I do not check on them often because it is not expedient as just clicking a button on the Quicken screen. I may go as long as a year on some of these smaller accounts. That's not good.

 

[dmpi]

Along this line of thinking....My MIL inherited a small bank account from her husband when he passed away. When she finally got around to looking at it a year later the bank account was empty! Turns out the bank account was drained by bank fees. We all shook our heads in disgust. Bottom line is: monitor your money, watch out for bank or broker fees. There are many people out for your money, including the banks.

 

[steelyman]

To be clear, I'm "looking at" my accounts just to make sure everything is there, and not obsessively checking performance. Mr. Bogle's advice to not "peek at your statements" is excellent metaphorically, but in today's world of on-line thievery, it is dangerous when taken literally. Look at your statements, just ignore the performance information.

I got an unexpected surprise the other day when I checked the balance in my 457 account, administered by T. Rowe Price.

It should have been six figures but now it was zero! Huh?!?

It turns out that the state had changed the administrator/record keeper from TRP to Empower (a company of which I’d never heard). The changeover won’t be complete for about another week (mid-July) so I can’t check to be sure till then.

Empower seems okey-dokey so I’m not too concerned. In the process of investigating I learned that Denver’s Mile High Stadium is now Empower Field at Mile High, for what that’s worth (I’m not a Broncos fan). But I really disliked TRP’s website and app so I’m hoping for the best.

 

[JoeWras]

I got an unexpected surprise the other day when I checked the balance in my 457 account, administered by T. Rowe Price.

It should have been six figures but now it was zero! Huh?!?

It turns out that the state had changed the administrator/record keeper from TRP to Empower (a company of which I’d never heard). The changeover won’t be complete for about another week (mid-July) so I can’t check to be sure till then.

Empower seems okey-dokey so I’m not too concerned. In the process of investigating I learned that Denver’s Mile High Stadium is now Empower Field at Mile High, for what that’s worth (I’m not a Broncos fan). But I really disliked TRP’s website and app so I’m hoping for the best.

These change-overs are nerve wracking. My old Megacorp's insurance portal is changing, so there is a period of no-man's land, like you have. The is one of many changes through the years. It seems like they are always bidding against each other. And frequently, the company that wins is something you never heard of.

 

[steelyman]

These change-overs are nerve wracking. My old Megacorp's insurance portal is changing, so there is a period of no-man's land, like you have. The is one of many changes through the years. It seems like they are always bidding against each other. And frequently, the company that wins is something you never heard of.

I was unaware (most likely had ignored) advance warning from the state plan about the switch. My TRP online account only showed “conversion debit”. I found the transition notice and it clearly said there would be no change in investment choices or balances. That was reassuring. I only keep the account because it’s my only access to a stable value fund. I’ve used it since 2005 and this is the first such change.

 

[athena53]

Well, dayum. I just re-ran my financial plan in my main brokerage firm's model (it brings in accounts form other firms) and my chance of not outliving my savings went from 99% in the regular scenario/99% in the LTC scenario to 99%/98%. Gotta turn off the A/C and reduce expenses!

On checking accounts regularly: we've had discussions on this before but look up escheat laws. A Planet Money podcast told of one poor guy who had Apple stock in a Fidelity account, never looked at it, figured it was worth $X at some point, and then found the account had been closed. Fidelity had turned it over to the state, which then sold it. The process worked as it was supposed to- Fidelity was required to turn it over and the state is not in the business of deciding whether to buy/sell/hold- but he was able to recover only the liquidated value, which was a fraction of what it would have been had it not been sold.

 

[MarieIG]

Well, dayum. I just re-ran my financial plan in my main brokerage firm's model (it brings in accounts form other firms) and my chance of not outliving my savings went from 99% in the regular scenario/99% in the LTC scenario to 99%/98%. Gotta turn off the A/C and reduce expenses!

On checking accounts regularly: we've had discussions on this before but look up escheat laws. A Planet Money podcast told of one poor guy who had Apple stock in a Fidelity account, never looked at it, figured it was worth $X at some point, and then found the account had been closed. Fidelity had turned it over to the state, which then sold it. The process worked as it was supposed to- Fidelity was required to turn it over and the state is not in the business of deciding whether to buy/sell/hold- but he was able to recover only the liquidated value, which was a fraction of what it would have been had it not been sold.

After my DF passed, I found that one of his stocks had escheated to the State. I was given the choice of recovering the stock or taking cash. I did have the stock transferred to the brokerage account. Presumably this option depends upon the State.

 

[jazz4cash]

Sorry, but checking every day begins to sound like a j*b to me. As long as I know I have enough, I don't need to be checking that often. Now, my money w*rks for me, not the other way around. YMMV

I can check my account in 20 seconds on my phone. That’s not like any job I ever had. Besides, I’m naturally curious about daily market news so I’m checking that too.

 

[NW-Bound]

Sorry, but checking every day begins to sound like a j*b to me. As long as I know I have enough, I don't need to be checking that often. Now, my money w*rks for me, not the other way around. YMMV

I can check my account in 20 seconds on my phone. That’s not like any job I ever had. Besides, I’m naturally curious about daily market news so I’m checking that too.

Without checking often, you don't know if your money is now working for someone else.

 

[JoeWras]

On the Bogleheads thread, some folks shared recent "pull" ACATS transactions from Vanguard. And the good news is they reported getting an email.

So just pay attention out there. The earlier you report problems, the better.

 

[Koolau]

On the Bogleheads thread, some folks shared recent "pull" ACATS transactions from Vanguard. And the good news is they reported getting an email.

So just pay attention out there. The earlier you report problems, the better.

Yeah, it's been a while, but I checked my saved e-mails and found e-mails letting me know when I did stuff in my 401(k) and at Vanguard. YMMV

 

[NW-Bound]

I just logged in to look at a couple of accounts I have not checked since last December.

Whew. My money is still there.

 

[Ncc1701]

I don't look during bear markets but I gave into temptation and found a good tax loss harvesting opportunity and also converted some individual stock from Traditional to Roth.

 

[Gary 1958]

I thought this article was interesting. We have an investment advisor (low fee) and stick to a 70/30 allocation. I don't look at the stock market everyday or even every week.
https://www.marketwatch.com/story/how-retirees-should-navigate-this-bear-market-11656090138

I think about it differently. I look everyday and do research to find out why it's happening so when I step into the voting booth I'm an informed voter. If you keep your head in the sand you deserve to lose your money. It may hurt to look but the next time you will be better prepared. If your broker is telling you not to look it's because they are embarrassed at their own performance and trying to hide. It's your money and you should be extremely upset that the brokers didn't see the GIANT FLASHING SIGN that said trouble ahead.

 

[Almost There 2021]

I have been checking daily, trend analysis and research on all. Sell or buy more when required. Been doing this Fire'd in 2012. Don't need to do this anymore but the process is in my blood. Love it....Mostly in cash now and not buying anything until S&P 3000 and will consider..

 

[athena53]

I think about it differently. I look everyday and do research to find out why it's happening so when I step into the voting booth I'm an informed voter. If you keep your head in the sand you deserve to lose your money.

I agree. I update (and save results) on the first of the month no matter how bad things are. The resulting graph, which I have from 30 years back, really puts the "disastrous" markets in perspective. The lesson I learned is that the good stuff recovers, so weed out under-performers along the way and sit tight in bear markets.

As for inflation- that's why I stay invested. What's important is the "real" rate of return over time- the delta between investment returns and inflation. It will be negative if you don't have some in equities.

 

[sroby2020]

- I watched CNBC and checked stock prices daily

I know, right! When I worked, I used to watch or listen to Cramer. After retirement and the change in mindset, I realized that his job is to get everyone riled up and slobbering to "invest" (more like trade) in the latest stuff. I often wondered what kind of kickbacks he gets

 

[Badger]

I know, right! When I worked, I used to watch or listen to Cramer. After retirement and the change in mindset, I realized that his job is to get everyone riled up and slobbering to "invest" (more like trade) in the latest stuff. I often wondered what kind of kickbacks he gets

+1 I saw him once and came to the same conclusion. Too slick, arrogant, and fast talking for me.

Cheers!

 

[marko]

I know, right! When I worked, I used to watch or listen to Cramer. After retirement and the change in mindset, I realized that his job is to get everyone riled up and slobbering to "invest" (more like trade) in the latest stuff. I often wondered what kind of kickbacks he gets

I record and watch the first 6 minutes of Cramer every night. I don't look for stock tips as I'm not a trader, but every few days I find he'll offer a broader insight to what's going on in the market.

For me, he's just one of many inputs that I digest, consider and learn from. Along with some good folks here, he did peel me off the ceiling back in '08/'09 for which I'm forever grateful and financially better off as a result.

 

[athena53]

For me, he's just one of many inputs that I digest, consider and learn from. Along with some good folks here, he did peel me off the ceiling back in '08/'09 for which I'm forever grateful and financially better off as a result.

I agree- good overall perspective. You also have to remember he influences a LOT of people. He may be wrong but what he says could affect the market or a particular stock!

It's good to keep a healthy skepticism about his CEO interviews, though. He always adores his interviewees, including Elizabeth Holmes, the founder of Theranos. I heard that one on a podcast. She's now in jail.

 

[NW-Bound]

I don't watch CNBC anymore, but often see a bit of snippets on YouTube. Cramer may be right occasionally, but he's wrong just as often.

Yes, he is cocky and arrogant, but this kind of personality is needed to get followers. It's true for many jobs with a public presence, from politicians to celebrity chefs. People like this kind of cr*p.

 

[Koolau]

+1 I saw him once and came to the same conclusion. Too slick, arrogant, and fast talking for me.

Cheers!

For a short while I found his antics to be entertaining. It wears thing pretty quickly, however. YMMV

 

[brett]

Quarterly at most. Not an active investor any more. They are all under management.

 

[Koolau]

Quarterly at most. Not an active investor any more. They are all under management.

Heh, heh, so are mine. MY management!:cool smiley: I still don't look that often. YMMV as always.