Your 401(k) is Up. Here’s Why You Shouldn’t Check It Too Often.

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.8 • 1.6K Ratings

🗓️ 21 December 2023

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This month’s stock market rally has significantly boosted 401(k) and IRA balances for many Americans. Wall Street Journal personal-finance reporter Joe Pinsker joins host J.R. Whalen to discuss why financial professionals suggest people not check their retirement accounts too often, even in good times. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:29.4	Here's your money briefing for Thursday December 21st. I'm J.R. Whelan for the Wall Street Journal.
0:41.0	After a few turbulent patches on Wall Street in 2023, markets hitting records and 52-week
0:46.6	highs this month have resulted in sizable gains for many Americans retirement savings.
0:51.7	So go ahead, check your 401k balance.
0:55.1	But financial professionals say, don't do it too often.
0:58.3	One worry is that in short, it'll go to your head.
1:01.3	When people see big gains in their account, there's a risk that they'll think they're some sort of investing genius and maybe then take risks that they shouldn't.
1:11.0	We'll talk to Wall Street Journal personal finance reporter Joe Pinsker.
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1:39.0	Add a card to Google Wallet. it. on this year's growth in their 401k, but could too much confidence be a bad thing?
1:56.3	Wall Street Journal Personal Finance reporter Joe Pinsker joins me.
2:00.0	So Joe, how good has it gotten from any 401k holders?
2:03.8	A market rally probably feels good to a lot of retirement savers, but fully answering that
2:09.2	question requires zooming out to look at the past couple years.
2:13.0	2022 was a bleak time for investors
2:16.0	with the market down significantly.
	...

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