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Monitor your investments regularly from "summary" of The Smartest Investment Book You'll Ever Read by Daniel R. Solin
The key to successful investing is to keep an eye on your investments. You can't just buy a few stocks or mutual funds and forget about them. You need to track their performance regularly. This doesn't mean checking them every hour or even every day. But you should review them periodically to make sure they are still aligned with your financial goals. Monitoring your investments regularly allows you to make necessary adjustments based on market conditions and changes in your personal circumstances. For example, if a particular stock is consistently underperforming, it might be time to sell it and invest in something else. Or if your risk tolerance has changed, you may need to rebalance your portfolio to ensure it still matches your desired level of risk. By staying on top of your investments, you can also take advantage of opportunities that arise. If a certain sector is performing well, you may want to increase your exposure to it. Or if a new investment product becomes available that aligns with your goals, you can consider adding it to your portfolio. Additionally, monitoring your investments regularly helps you avoid making emotional decisions. It's easy to get caught up in the hype of the market or panic when there's a downturn. But by reviewing your investments with a clear head on a consistent basis, you can make rational choices that are in your best interest.- Keeping a close watch on your investments is crucial for long-term success. It allows you to stay informed, make informed decisions, and adapt to changing circumstances. So be sure to monitor your investments regularly to ensure your financial future remains on track.
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