I'm near my late 20s. I have no debt, extremely frugal, and have close to $250k.
I feel like I'm a little to obsessed with saving and investing. Fist thing I do in the morning is check the stock market, crypto, and my portfolio. I'm constantly thinking about moving my money around and what the best stock or crypto I should be in. This goes on multiple times a day.
I wish I could just forget about it and pretend it's not there so I can focus on more meaningful things in life.
Obsessed about saving and investing
byu/Electrical_Invite552 inpersonalfinance
Posted by Electrical_Invite552
8 Comments
Put it into an index fund that tracks the S&P 500 and forget about it so you can enjoy you’re life. Do that, keep contributing, and you will be a multimillionaire by the time you retire.
“Life moves pretty fast. If you don’t stop and look around once in a while, you could miss it.” – Ferris Buller
You really do need to stop this behavior. Work hard at it. Get out, do something else. Your money’s doing fine without constantly watching it.
Your future, however, is looking more and more bleak every day. Get out, enjoy life, meet people, get laid, ffs.
You have to find the balance. These are good things but taken too far they become the thing that define your life.
Here is what I would suggest, because I have a lot of the same traits. Automate 90% of your investments. Broad index funds, the classic 3 index portfolio, whatever. You know what I am talking about. Then take the other 10% and pick stocks/crypto/whatever with it.
Don’t let money define your life. Money is a tool to help you and the people your care about get through life.
You don’t you worship money, do you? Find something worth worshipping.
You are corrrect in thinking that your behavior is bordering on unhealthy and that you should focus on other things. It’s one thing to enjoy investing as a hobby, but any hobby can drift into an unhealthy obsession.
One piece of advice given to most young investors is that you have to think *long term*. This means that you don’t have to keep constant watch on your long term investments.
However I can see that keeping up with the crypto game may be partially driving your need to continually monitor things. Maybe consider moving some money from crypto and putting it into something with a long term track record.
You are doing better financially 90% of people your age. Try to relax a bit. Make a habit to just check the market just once a week.
Maybe pick up a new hobby, preferably something outdoors or active. Or volunteer to get outside yourself a bit. Money isn’t everything and you can’t take it with you.
Crypto is not an investment. It’s gambling. Put your 401k/ira in a whole market fund don’t look at it for 20 years.
You’re gonna screw yourself by making bad decisions and end up with less money than if you had just bought an index fund and held.
My advice is to put your emergency fund + property down payment (if you need one) in a money market like VUSXX, put the rest in VT, and stop worrying.
The best performing investment accounts are the ones that are forgotten for 40 years. Tracking it so closely will be far more likely to lead to mistakes. It’s in your moneys best interest to build a strategy and stick to it. You shouldn’t be making changes based on market conditions