Why Regularly Monitoring Your Brokerage Account is Crucial for Financial Health
Importance of Monitoring Your Brokerage Account
Some people check their brokerage account balances on a daily basis. And people who do that may be causing themselves some unnecessary stress.
The stock market can swing wildly from one day to the next, so checking your portfolio every day isn't actually a great idea.
- If anything, it might push you to make rash decisions that don't benefit you financially, like selling a stock whose value has dropped temporarily rather than waiting things out and avoiding losses.
But while checking your brokerage account balance daily isn't a good thing, it's also unwise to never look in on your portfolio.
- If you don't take that key step, you might miss out on opportunities to shift your assets in a way that benefits you.
You shouldn't neglect your portfolio
- If you don't make any effort to monitor your brokerage account, for one thing, you might fail to recognize a losing investment that's only going to get worse.
- There's a risk that your portfolio might become imbalanced, which can lead to increased risks and potential losses.
Give your portfolio the attention it deserves. Regular monitoring is key to achieving financial success.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.