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Three Tips For Sticking to Your Retirement Savings


Unless you're hooked up with a bullet and foolproof investment plan, chances are your retirement savings have taken a beating over the past many months. You're not alone! My 401(k) has been dragged through the trenches and the result is not pretty.

Am I a sucker for pumping monthly contributions into my retirement investments? I'd like to think not, though it's tough to contain my frustration when I peek at my account's worth. Find out what rationalization I use to make myself feel better when you read more.

Here are the little gems I use to tell myself in the end, it's all going to be OK. Hopefully they'll help you feel the same way about staying on track with your retirement savings.

  1. I'm in this for the long haul. Retirement savings are for the future and aren't to be touched any sooner than your golden years. My investment plan reflects a long-term strategy and I trust that it will serve me well in the end.
  2. I can't control the market. The market is a cycle and it's currently at a low point. While the account's total worth is lower than I've seen it before, I'm getting more shares for my money by buying them at their cheaper price. If history is any example, the cycle will come around and turn around this bear market.
  3. I'm not alone! Staring at your dwindling account value might lead you to conclude that you have bad luck. If that were true, than most investors would be unlucky, too! There's no glass ball predicting the future, so acknowledge that the market is in a slump and move on.

One final tip: Don't check your retirement accounts often. I only check mine about once a quarter, because there's no point aside from fulfilling curiosity. It's always a good idea to make sure your investment plan meets your risk tolerance and time horizon, so review your accounts and see if they need to be rebalanced to meet your investment goals.

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