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I couldn't even begin to calculate my returns over the decades I've been investing. So many accounts (401Ks) finally consolidated, multiple IRAs finally consolidated, savings accounts, CDs, stock options...it would be an exercise in frustration and futility, not to mention the fact that there were quite a few years in there I never bothered to look or open the statements. My philosophy was this: "just keep shoving the money into 401ks and IRAs every year, save in addition for emergencies and other things you want, and don't think about it."
What matters now is where you put your monies, how much is allocated to equities vs bonds or other, and how long you intend or need to keep that money invested, and if you can stay the course if you're a long term investor.
I couldn't even begin to calculate my returns over the decades I've been investing. So many accounts (401Ks) finally consolidated, multiple IRAs finally consolidated, savings accounts, CDs, stock options...it would be an exercise in frustration and futility, not to mention the fact that there were quite a few years in there I never bothered to look or open the statements. My philosophy was this: "just keep shoving the money into 401ks and IRAs every year, save in addition for emergencies and other things you want, and don't think about it."
What matters now is where you put your monies, how much is allocated to equities vs bonds or other, and how long you intend or need to keep that money invested, and if you can stay the course if you're a long term investor.
i think the attitude on this changes as you become more accustomed to getting this information and valuing it. fortunately, i have had my money invested with fidelity (all of it that i have control of) since i started working in 2004. So get to see my whole picture broken down monthly from that point. its awesome. i would hate to lose it. i can see how someone who doesnt have that doesnt see how great it is; but once people become able to do it they will be thinking "how could someone be happy not knowing their actual returns?"
i have the same thing with mint.com. i started using it in 2011. so now i have details on my income/spending and balance sheet from that point on. i wish i would have it from the beginning in 2004. i tried to tell my brother to use it and he doesnt see the need. i guarantee you that even though now he doesnt seem to care, if he used it he would be pissed that he didnt start earlier.
I've used mint.com religiously since 2011, although there have been a few glitches along the way, causing me to have to delete an account then re-enter it, which has screwed up my long term trend reports. But it has allowed me to get my budget dialed-in really well and keep track of it and know where my money is going and what's coming in and when. I also use personalcapital.com to track my consolidated investments. Yes fidelity has their tools, but I find the consolidated balances across all accounts are often behind.
I've been a Fidelity client for 30 years, but have also had accounts in other places as well (I do also use Vanguard actively), so again, data has been all over the place. I figured keeping good investing behavior going was more important than worrying about the market. It's only been in the last 3 to 4 years that I've gotten intense about my investments, since I was looking towards retirement and figuring out when that could happen.
Now I watch things daily, which is more often than I need to, for sure. I think I was better off ignoring the market altogether and just shoving the money in and not otherwise thinking or worrying about it. :-)
I refuse to use mint.com or personalcapital.com because I refuse to divulge my passwords to some cloud service that can be hacked.
Unless they can virtually guarantee me a very generous no gotchas and no fine print attached re-imbursement policy for any losses due to hacking AND on top of that compensation for any additional hardship encountered due to such hacking AND also additional compensation for emotional distress due to such hacking. Otherwise they can go fly a kite.
I refuse to use mint.com or personalcapital.com because I refuse to divulge my passwords to some cloud service that can be hacked.
Unless they can virtually guarantee me a very generous no gotchas and no fine print attached re-imbursement policy for any losses due to hacking AND on top of that compensation for any additional hardship encountered due to such hacking AND also additional compensation for emotional distress due to such hacking. Otherwise they can go fly a kite.
how much emotional distress do you think you might have if someone hacked your account?
I refuse to use mint.com or personalcapital.com because I refuse to divulge my passwords to some cloud service that can be hacked.
Unless they can virtually guarantee me a very generous no gotchas and no fine print attached re-imbursement policy for any losses due to hacking AND on top of that compensation for any additional hardship encountered due to such hacking AND also additional compensation for emotional distress due to such hacking. Otherwise they can go fly a kite.
Any financial institution these days has multiple security measures in place. For one, they know what devices you use to login, so if you login from a different device, it won't let you. I've never heard of passwords being hacked.
When the markets are at or near an all time high, I'll heed the advice of Warren Buffett - be fearful when others are greedy. We've had a lot of large down days lately -- and it's smart to take some chips off the table.
You just contradicted your own advice. People are fearful now so you should be adding chips to the table,
You just contradicted your own advice. People are fearful now so you should be adding chips to the table,
LOL we haven't reached any sort of fear level. People will be fearful when the market drops to dow $17K or so, and retirement portfolios are crushed, like in 2008 and 2009. Then you'll have fear. Or- what I call a buying opportunity.
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