6. Manage your stock portfolio
While fretting over daily fluctuations won’t do much for your portfolio’s health there will of course be times when you’ll need to check in on your stocks or other investments. If you follow the steps above to buy mutual funds and individual stocks over time, you’ll want to revisit your portfolio a few times a year to make sure it’s still in line with your investment goals.
A few things to consider: If you’re approaching retirement, you may want to move some of your stock investments over to more conservative fixed-income investments. If your portfolio is too heavily weighted in one sector or industry, consider buying stocks or funds in a different sector to build more diversification.