Stop Watching the Market: How Often Should Retirees Check Their Investments?

Well, we were talking about people have anxiety checking their bank accounts sometimes and sometimes they don't look, but how often should soon-to-be and current retirees be checking on their investments? And honestly, what should they be looking for? Well,

not every day.

And that's what happens.

And my lovely, precious, beautiful wife will say, we lost $50,000 today or, you know,

Or

we made $100,000 today and I don't really make comment because what you lost today or made today really doesn't matter because the market's just like that.

It's the biggest gossip column in the world.

Oh,

that's a good analogy.

It really is because just random things can cause the price to go way up or way down without Real reason, you know, is that company really worth that much less or is that company worth that much more because of someone got bombed in the Middle East?

Right.

So you have to be cautious about watching it every day.

Now, I do tell the people that work with us that we have an investment team that pays close, close, close attention to each segment of their portfolio.

And that's important.

But you need to know what you're looking for.

If you're basing your financial decisions on what's happening in the news or maybe a comment the president made or, you know, something that the Fed chair has to say when they come out and tell, you know, after they meet, those things can drive you crazy.

They really can.

So not every day, but I do believe it's important to check it.

So I would check it at least quarterly to make sure, first of all, that everything's okay in your account.

Second of all, whether or not you're seeing something that maybe you want to chat with your advisor about.

If you want to keep an advisor, you don't want to be calling them every day with your concern, right?

Right.

Because that's not going to be helpful.

It's not going to be helpful to you.

It's not going to be helpful to the advisors.

Well, we were talking about people have anxiety checking their bank accounts sometimes and sometimes they don't look, but how often should soon-to-be and current retirees be checking on their investments? And honestly, what should they be looking for? Well,

not every day.

And that's what happens.

And my lovely, precious, beautiful wife will say, we lost $50,000 today or, you know,

Or

we made $100,000 today and I don't really make comment because what you lost today or made today really doesn't matter because the market's just like that.

It's the biggest gossip column in the world.

Oh,

that's a good analogy.

It really is because just random things can cause the price to go way up or way down without Real reason, you know, is that company really worth that much less or is that company worth that much more because of someone got bombed in the Middle East?

Right.

So you have to be cautious about watching it every day.

Now, I do tell the people that work with us that we have an investment team that pays close, close, close attention to each segment of their portfolio.

And that's important.

But you need to know what you're looking for.

If you're basing your financial decisions on what's happening in the news or maybe a comment the president made or, you know, something that the Fed chair has to say when they come out and tell, you know, after they meet, those things can drive you crazy.

They really can.

So not every day, but I do believe it's important to check it.

So I would check it at least quarterly to make sure, first of all, that everything's okay in your account.

Second of all, whether or not you're seeing something that maybe you want to chat with your advisor about.

If you want to keep an advisor, you don't want to be calling them every day with your concern, right?

Right.

Because that's not going to be helpful.

It's not going to be helpful to you.

It's not going to be helpful to the advisors.