Thanks to technology, stock market updates are available as they happen. But being constantly connected to the short-term happenings of your investments has the potential to backfire. If your reaction to every change is to buy or sell stocks, you could easily trip yourself up.

Give it time

Selling a stock for a quick profit, for example, may cause you to miss out on potential long-term gains of that stock down the road. And actively buying and selling may increase your transaction fees. Finally, shorter-term buying and selling may increase taxes you owe on capital gains, which in turn impacts the overall value of your nest egg.

If you’re looking for a well-balanced model for potential success, consider purchasing investments you see as having potential to build your wealth over the long term. Then, be patient and give your investments time. You can consider monitoring your investment performance and following industry news, but try not to let day-to-day fluctuations of an investment push you into a quick buy or sale.

Work with a full-service advisor

Empower yourself with financial knowledge

We’re committed to your financial success. Here you’ll find a wide range of helpful information, interactive tools, practical strategies, and more — all designed to help you increase your financial literacy and reach your financial goals.

My Financial Guide