For many Americans, the economic downturn has meant having to work more years than they would’ve liked. For even more Americans moving forward, it will mean having to seek part-time employment in order to supplement their retirement income.
If you are one of the people smart enough, lucky enough, and wealthy enough to actually enjoy your retirement, I have a few suggestions for you which I think you will find most helpful:
Don’t be that investor guy.
Now that you don’t have to go to work anymore or show up to an office, you wake up in the morning and the first thing you do is turn on the TV to CNN Money or FOXNews Business, open up your trading accounts and sit there and watch share prices move a little each day. Sometimes up, sometimes down. But always moving, slightly.
It is a kind of time wasting and distraction which inevitably does not result in any more or less gains then had you say, just enjoyed the day. If you have all of your financial ducks in a row, the entire point of retiring should be to do what you love and to enjoy life to the max.
Sitting around looking at your trading account or your investment portfolio all day is just going to result in increased boredom, not more excitement.
1. If you must check all your accounts on a regular basis, I would suggest doing so only once a week and no more. Remember, you are not a daytrader. There is no reason why you need to keep looking at your investments and seeing how much they are worth.
2. When you do check your investments, do so for only 30 minutes, and then leave it at that until the next week (or month) when you feel the need to check again.
If you planned out your investment portfolio appropriately and made sure to hedge risk, then this should only be a logical solution. Often times because I work from home I find myself wasting time sitting in front of a computer doing nothing, and that’s what I’m trying to save you from.
So remember, life is much more than your portfolio even after retirement has begun. It’s time to get out there and live life and enjoy it while you still have your health and can!