Track All Your Investments

One common investment principle I have found successful investors share is they track, evaluate, and review all of their investments regularly.  This sounds basic but it is not uncommon for investors to track their investments when the market is going up, and lose interest quickly when it goes down.

Two questions I ask new potential clients are:

    What did you do in the 2008 correction?
    How did your investments do?

One couple who recently came onboard with Core Wealth Consultants was quick to answer both questions.  “We didn’t do anything and our investments were only down 10% or so.”  They then added: “We didn’t do too badly in the correction.”

Now, I had already seen the investments in their portfolio.  They had okay mutual funds but they were very equity oriented.  And I knew their portfolio was down more than 10% during the 2008 and 2009 recession.  It would appear their strategy was to ignore the statements, not even look at their Investment Strategies Orlando, just keep their heads down and work.

This ‘default’ position is understandable because it’s the easiest thing to do, but it’s really not the most effective way to invest!  If you have a diversified portfolio, this strategy is better than watching the market too closely, getting panicked and then getting out at the bottom, or close to it.  But you know what?  There is a better strategy than both of these extremes.

You should have a process set up to track all of your investments in one place, go over them at least a few times a year, and make minor adjustments along the way.   This will keep your decisions small and easier to make.  It will also more than likely help minimize the need to make major investment decisions in the future.

There are good Financial Aggregator programs out there to help you. A few of them are Personal Capital, Mint.com, Blueleaf to name a few.   Each has specific strengths so spend some time researching which one might fit your needs and goals best.

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