Has It Grown Yet? | Wisdom, Wealth, and Wellness

Jonathan Satovsky
CFP®, ChFC®, CIMA®, CPWA®, CDFA®, DACFP

Good morning, good afternoon, good evening. Depending on the part of the world you’re in. This is Jonathan Satovsky with a quick update on “Seeking Wisdom, Wealth, and Wellness.” It was reported that the average investor checks their 401(k) balances, according to Vanguard, 25 times a year on their cell phones. This translates to two times a month on average, versus ten times [a year] for those using a computer, [which is] closer to once a month.

Now, if you’re setting a long-term plan and you’re 40 years old, what is going to change in two weeks? Why is the two-week balance [important], does it set your mood? Is it just a habit?

The average 40-year-old should be saving, reportedly at least 8.8% a year, to be able to secure their future. And they sort of need tunnel vision to be able to lock in a plan and just put it on autopilot. Checking [your 401(k)] twice a month leads to the risk of making adjustments based on how you feel at a moment in time. Well, how you feel is irrelevant because if you understand the evidence, and you step back, and you set a plan for the course of 30 – 40 years, there’s no reason to say, “Has it grown yet? Has it grown yet? Has it grown yet? Has it grown yet?” and keep picking up the weeds. It leads to an immense amount of anxiety and mistakes, unnecessarily.

So set a path, set a plan. And you know what? How about sitting down once a year? Once a year, find a trusted advisor. You can sit down, go over everything, flush it all out, and talk about what’s working, what’s not, and how to recalibrate, or not, on your path to Wisdom, Wealth, and Wellness.

Have a great day.

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Video Recorded July 20, 2023
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Disclosures

This blog post is not intended to be, nor should it be construed or used as, an offer to sell, or a solicitation or offer to buy any securities or interests in any strategy offered by Satovsky Asset Management, LLC (“SAM”). SAM is a registered investment advisor with the Securities and Exchange Commission – for more information see www.adviserinfo.sec.gov. Please remember that different types of investments involve varying degrees of risk, and that past performance is not indicative of future results. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the strategies recommended or undertaken by SAM) will be profitable. Market index information shown herein is included to show relative market performance for the periods indicated and not as standards of comparison. The market volatility, liquidity and other characteristics of SAM’s portfolio composition are materially different from the securities listed on public market indices. Market index information was compiled from sources that SAM believes to be reliable. No representation of guarantee is made hereby with respect of the accuracy or completeness or such data. Opinions are as of date of video and are subject to change. A copy of SAM’s current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request. SAM undertakes no duty to update information presented herein.

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