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MY WIFE AND I TOOK a hiking trip last fall that included wandering through the foothills of the Ozark Mountains in Arkansas. The leaves were just starting to change colors, something I so badly miss living here in Texas.
I returned exhausted and sore, yet mentally energized and invigorated. For the majority of the trip, we were untethered from technology: no cellphone service during the day, no newspapers or TV distractions, no political talking heads, and no e-mails requiring an immediate response.
My rejuvenated mental state was partly due to the physical exertion, but also partly the result of escaping the constant deluge of news, financial and otherwise. You see, I’m a closet financial information junkie. Not a day goes by without checking the Dow’s and Nasdaq’s movements, looking for the best rates on certificates of deposit, or wondering when the Federal Reserve will lower interest rates.
One of my favorite websites is finviz.com, a financial market visualization website. I check market data regularly and tabulate my net worth weekly. I rationalize my “need to know” as an effort to check that our portfolio really can sustain us through a 40-year retirement.
Admittedly, even I find my behavior odd, especially since I don’t own any individual stocks. I have a plan in place, as described in earlier HumbleDollar articles. I contributed religiously to retirement accounts during my working years, stick to my investment strategy, and rebalance once or twice a year to my set asset allocation. My portfolio is predominantly comprised of a Boglehead-like mix of Vanguard stock and bond mutual funds. I also have a sprinkling of cash equivalents to help us weather retirement until we start Social Security. My mantra leans toward set it and then don’t mess with it.
But as I see it, that doesn’t mean I can’t keep an eye on what’s happening in the wider financial world. I don’t watch the financial talking heads, and I’m rarely distracted by click-bait money articles. I chuckle when buddies discuss the latest hot stock or investing trend, and I get a kick when I hear people declare that they regularly beat the market. I’m content to simply match the market, accept my winnings, and let others swing for the fences. Still, that doesn’t mean I don’t peek daily at stock and fund prices, market trends and movements, and financial press releases.
The upshot: I decided to undergo a mental reset. I vowed not to look at markets or investment prices for 30 days.
Lord knows I tried. The first day was easy. I set my phone screen-side down to alleviate distractions. I only read the opinion section of The New York Times. I tuned into the evening news late to avoid the market wrap-up report. I went to sleep that evening a happy camper, confident I could meet this self-imposed 30-day challenge.
The next day was more challenging. The U.S. jobs report was released, and I was curious how this might influence the short-term rates set at the next Federal Reserve meeting. I took a deep breath, listened to tunes on Spotify and kept my cool.
The third day was fine—until I woke up. Habits die hard. I sat down with my morning cup of Joe and opened my iPad. Muscle memory took over. Without a second thought, I placed a quick tap on a Safari bookmark to check changes in the 7-day yield of Vanguard Group’s money market settlement fund (symbol: VMFXX). Oops. My cat-like reflexes enabled me to hit the home button and look away before the page fully loaded.
Of course, the next open tab was set for HumbleDollar’s homepage. I was truly grateful that the exchange-traded fund price ticker was gone from the top of the page. But the news’ siren call remained strong, and I knew that it would be best not to surf my usual sites this morning. Perhaps I’d spend the rest of the day gardening.
The fourth day was abysmal. I had a doctor’s appointment and, naturally, the doctor was delayed due to an unscheduled patient procedure. I was stuck in the waiting area for 45 minutes longer than anticipated. The only seat available was directly across from the muted TV, with yet another insidious stock ticker scrolling across the bottom of the screen. Curses. For a moment, I actually wished I was at the optometrist getting my pupils dilated. I concentrated on playing solitaire on my phone, a game I loathe.
My stress level and blood pressure were elevated, clear manifestations of withdrawal. I gave up my quest on the fifth day, knowing with certainty my cardiologist would approve the decision. My self-enforced abstinence didn’t seem worth the mental effort. After a moment of self-reflection, I realized there are worse follies than feeling shackled to the world’s economic pulse.
I tried to feel a modicum of success by acknowledging I reached 15% of my 30-day goal. Author James Clear detailed in Atomic Habits how behavioral changes are more successful when done in small steps. I’ll consider breaking my goal into smaller pieces, such as checking financial news only once a week or updating my spreadsheets less frequently.
Change can be hard, but I’ll try—though it might be easier to simply take more camping trips outside of cellphone tower range.
Jeffrey K. Actor, PhD, was a professor at a major medical school in Houston for more than 25 years, serving as an academic researcher with interests in how immune responses function to fight pathogenic diseases. Jeff’s retirement goals are to write short science fiction stories, volunteer in the community and spend time in his garden. Check out his earlier articles.
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Your article made me laugh…it is so like myself.
Last year I purchased a series of Fixed Indexed Annuities, with Income Riders, as the “Bond Substitute” for my balanced 60/40 portfolio. This, along with assigning other assets to a “3 year cash cushion” to protect us from market volatility, was supposed to make it unnecessary for me to track the numbers daily, RE: our portfolio.
NOT!
Since I am convinced that the market is based on Greed, Fear, and Stupidity, and since I am a self described “Boglehead,” my actions are totally unnecessary, since I will never react to the financial news and allow it to make me alter my Vanguard Holdings.
But old habits truly are hard to break. I have been updating my Excel Spreadsheet daily, for going on 12 years.
I have made one step in the right direction however…I no longer watch ANY news broadcasts…on ANY Channel…period. Since it is primarily “fake news” anyway, it is better for my health and blood pressure.
Good Luck taming your addiction!
Hi Jeff,
You wrote, “My mantra leans toward set it and then don’t mess with it.” If so why do you calculate your net worth weekly? Maybe try my plan which is to calculate our net worth quarterly. I do this as we do not have a budget (but are naturally frugal), living off our retirement assets until we claim Social Security at 70 so I need to be sure our financial boat is not slowly taking on water and sinking (not so for the past four years).
I used to rebalance to the exact planned percentages, but now only if off by five percent unless I need to harvest gains to recharge our 1-2 year cash position.
We use Quicken, which updates our net worth as often as I hit the update button (usually multiple times a weekday). However, I usually don’t look at net worth more than maybe once a month. I’m more interested in how our investments are doing for the day and week. Quicken shows asset allocation, making rebalancing easy. Whenever there is new money to invest, from my wife’s 401(k) contributions or our dividends or capital gain distributions in our IRAs and HSAs, I simply direct it to the asset classes below my target allocation.
Jeff, I wonder if this habit isn’t just part and parcel of all the other habits you’ve likely acquired over your lifetime: the habit of pursuing your profession with diligence, the habit of saving and investing regularly, the habit of eating right and exercising, etc., etc.
My point is that if we tend to have habits—and I do, too—and most of them are beneficial, maybe we should just accept that some which are more frivolous are just part of the package?
I like that way of thinking! Part and parcel of the whole package.
As addictions go it seems pretty harmless, so long as you don’t act on any of the information! Probably the best way to change it would be to find something else that interests you as much.
I agree. As long as you don’t act, Jeff, you’ll be fine. Consider yourself a financial voyeur. 🙂
I used to work, many decades ago, in the Financial Services industry. I, too, constantly check Stock Market and economic indicators.
Thank goodness my wife of over 4 decades makes sure I don’t change our investments every day. Or week. Or month.
Maybe we rebalance every 14-15 months or so.
But that hasn’t stopped me from being a financial news junky.
Thankfully, Humble Dollar and all its’ columnists and commenters lets me feed my addiction with very little impact.
It is good to know that I am not alone! Maybe we should lobby for HumbleDollar to bring back the ticker tape….
Birds of a feather. Maybe we should start using the new forum for a regular FA meeting — Financial news Anonymous. Hi I’m David and I looked at bond rates, my portfolio, and Jay Powells FOMC presser today. There are worse habits but it’s good to step away and clear the brain.
On the misery of political noise in an election year: I had to write email filter rules to reclaim my mailbox from the unsolicited hyperventilating nonsense of both political parties. I feel so much better now.
There are worse activities to be addicted to!
Good article Jeff. My opinion is that as long as your habit isn’t impacting your life or behavior, don’t worry. It sounds like you have a strong financial plan that you follow and don’t react to every swing of the market, or Fed statement. If the daily gyrations don’t impact your mood or your relationships, it sounds fairly harmless.
Rick, I learned long ago to treat my actions as a “hobby”, and not get caught in the emotional roller coaster. Admittedly it can be challenging at times. Even then, I try to limit the mood swings (up or down) to just a few minutes.
Addiction really does come in all forms, doesn’t it?
Mike, Indeed. See a previous post https://humbledollar.com/2023/09/behave-yourself/
The first day of basic training in the USAF (decades ago) we were told that all contact with the outside world would be cut off for the duration (one postcard to our parents advising that we were safe and sound).
Six weeks later we discovered that nothing of merit had changed. I remember that very important lesson to this day.
But… like you, Jeff, I watch Ms Market’s activity during the day.
Thanks for the comment, and thank you for your service!
Why fight it. I too am addicted. Ever since I consolidated all matters financial I look several times a day even knowing nothing much has changed from my previous peek.
Tab a button and every tiny piece of info is in my face, including net worth updated daily and not even by me.
I hit “activity” to see if a dividend, interest or distribution has arrived even knowing it’s not the day for it to happen. I know the gain or loss of my IRA, brokerage account and each investment each day.
Temporarily my mood swings accordingly it’s nuts.
Yep. I’ve partly just come to accept that this is part of who I am. As long as I can shrug off the emotions and stick to the plan, all is fine.
Nice try, Jeff. Sorry, I meant nice article. I recall that John Lim wrote of something similar a few years back. I’ve read that imagination is stronger than willpower. I believe it. Cutting out foods we like is no way to begin a successful diet. But picturing a slimmer physique or even a negative health consequence can draw us toward better choices.
i say go to the garden before the sun gets hot and spend your coffee time planning your next hike. The world will turn without our input.
Ed, Good point, and great suggestions. Thanks!