Monitor your investments regularly from "summary" of I Will Teach You to Be Rich: The Journal by Ramit Sethi
When it comes to your investments, it's crucial to keep a close eye on them. You can't just set it and forget it. Think about it like this: would you plant a garden and never water it, weed it, or check on it? Of course not. The same goes for your investments. You need to nurture them and make sure they're growing as they should. Monitoring your investments regularly doesn't mean obsessively checking them every hour or every day. It means setting aside some time on a regular basis to review how they're doing. This could be once a month, once a quarter, or even once a year, depending on your comfort level and the type of investments you have. When you monitor your investments regularly, you're able to catch any issues or trends early on. For example, if one of your investments is consistently underperforming, you can take action to address it before it becomes a bigger problem. On the flip side, if one of your investments is doing exceptionally well, you can decide if you want to capitalize on that success or if it's time to rebalance your portfolio. Monitoring your investments also gives you a sense of control and confidence. You're not just blindly trusting someone else to manage your money – you're actively involved in the process and making informed decisions about your financial future. Plus, the more you monitor your investments, the more you'll learn about how the market works and how different investment vehicles perform.- Monitoring your investments regularly is about being proactive and taking charge of your financial well-being. It's about being a responsible investor who pays attention to the details and stays informed about the latest developments in the market. So, don't neglect your investments – give them the attention they deserve and watch them grow.
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