Money Management Newsletter: Managing
Markets down, blood pressure up? What the doctor ordered
Do you have any of the following symptoms?
- You have a compulsive need to check the newspaper everyday to see how much your mutual fund prices have changed
- Your anxiety level goes up if you can't find a paper or the mutual fund tables
- Your anxiety level goes higher if you do find the paper and your mutual fund prices have dropped... again
- You chart the daily prices for all your funds
- Every article you read about potential market downturns has you second guessing your current fund investments while every positive article restores your faith and you can't wait for tomorrow's paper to see how your funds did today
- You really can't wait for tomorrow's paper and you use your Internet access to dial into an information service that can give you an immediate update of your unit prices
- You think you're a genius because your portfolio has made over 40% this year and beat the pants off all of your friend's
- You want to throttle your financial advisor because your friend's portfolio has done over 40% and beat the pants off yours
Is there a problem? Well apart from having way too much
time on your hands and maybe needing a new life, if many of the above
symptoms apply to you, you need to reassess what all of this constant
information means to you in the long term. We all know that in the long
term: a) markets are going to go up and b) we will die. So if a) is a
given why don't you spend more time enjoying your life before b) happens?
My recommendation is to set up a portfolio you are comfortable with and then go fishing or take your spouse on a long trip. He/she probably needs the break.
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