Updated: Jan 14
"How is your portfolio performing?" I get this question quite often from some of my friends and colleagues. It's hard to give a straight answer. I can pull up a specific brokerage account in an investment app on my phone. I can look up the individual performance of a specific holding I own. Unless you use an automated software tool to track all of your investments in one place, you may not be able to know how your portfolio is performing.
In order to stay on top of your finances, it's important to know how your overall portfolio is performing. I consider a "portfolio" to be the overall collection of a person's holdings (i.e. securities, index funds, cash, etc.). It is essentially a summary of your investment profile. I have several accounts through multiple financial institutions and for various purposes: IRA's, brokerage accounts, 401k, HSA, etc. It's hard to keep track of all of them! You do not have to check your portfolio on a daily basis to have a general idea of how your investments are faring. Once a month is plenty. Even bi-annually or annually checking your investments is enough to generally know if your investments are doing well or need an adjustment, particularly if you take a more passive approach to investments.
Wherever you stand on keeping up with your portfolio, we have developed a nifty portfolio tracker spreadsheet in Google Sheets to allow you to check on your portfolio performance in one place. Head on over to our Resources page to access this free spreadsheet! You won't regret it!
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