Roller coaster moves in the market might tempt you to obsessively watch your investments or even adjust your holdings. Behavioral finance expert Dan Ariely says those are some of the worst things you can do.
If you're inclined to check your 401 or other investment account balances, think again.
"Volatility is inherently frightening," Ariely said. "Being frightened means that we are paralyzed, we think about it too much.How your reality gets distorted Take weight loss, for example. If people look at their weight in precise measurements with decimals — say 162.3 pounds — they tend to create stories to make sense of what they are seeing. And the result is often that they become unmotivated, Ariely said.
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