Some investors like to play an active role in managing their investment portfolio. You might monitor fluctuations in your portfolio yourself, or in partnership with professional advisers.
Keeping track of market movements can be useful, but too much scrutiny can result in panic or knee-jerk reactions, many of which may not prove the most sensible investment moves over the long term.
If you find yourself getting a little too invested in your investments, here are a few tips to help step back.
Remember the longer term
Unless you’re deeply embedded in day trading, it’s likely that your investments will have a horizon of a number of years,
rather than a number of hours. Coronavirus headlines and geopolitics are causing movements to markets, which are often
as short-lived as they are unexpected.
You should always keep your investment horizon in mind before panic buying or selling.
Speak to an adviser
If you’re really concerned about the performance of your portfolio, or certain categories within it, the best thing you can do
is to reach out. A professional adviser can help put your concerns into context and provide sensible guidance on the next steps. It’s far better to reach out and ask the question than find yourself in a position of panic.
Take a technology break
If it’s all getting too much, try to limit your exposure to the headlines. Put your phone down for a few hours or switch off
notifications so that you decide if you’d like to consume investment news, rather than it appearing in front of your eyes.
Try to consolidate your apps or sources to only those that have proven to be most useful and trustworthy in your experience.
Of course, it’s important to take a considered approach to your investment and striking a balance between optimising the
opportunity at hand and staying measured is key.
If you’d like to talk about your portfolio, or even if you don’t know how to gets started, I’m always happy to provide advice or a free consultation.
As I understand your time is extremely valuable and scarce, I am able to offer flexible meetings times, including outside business hours and during the weekend. I can even come and meet you somewhere convenient, or talk via videoconference on Skype.
My first consultation is free. I allocate up to 90 minutes to discuss your personal circumstances and to establish how I may best assist you. Where you already have an existing adviser, I would be happy to offer a second opinion. I always quote a fixed dollar fee before we start working together.
Please contact me on email@example.com or call me direct on 0432 885 295. You can follow me on Twitter @YvesSchoof or connect with me on LinkedIn to receive new articles.
Yves Schoof and Affluence Private Wealth are Authorised Representatives of Synchron, AFS Licence No. 243313.
The information posted is intended to be general in nature and is not personal financial product advice. It does not take into account your objectives, financial situation or needs.
Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your objectives, financial situation and needs. In particular, you should seek independent financial advice and read the relevant product disclosure statement (PDS) or other offer document prior to making a decision.