Retirement is supposed to be a time to relax — but for some, letting go of financial worries is harder than expected. One 64-year-old retiree recently posted on Reddit that she checks her Schwab account five times a day, even though she's confident she has enough money to last. "It's ridiculous and I know it," she wrote. "But I don't seem to be able to resist."
She's not alone. Many retirees find themselves obsessively checking account balances, worried about market dips or the future — even when their financial situation is sound. So what's behind this behavior, and how can retirees break the cycle?
Don't Miss:
- Accredited Investors: Grab Pre-IPO Shares of the AI Company Powering Hasbro, Sephora & MGM—Just $0.63 Before NASDAQ Launch
- ‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share.
The Emotional Side of Retirement Worry
For some, checking investment accounts isn't just about money — it's about control. One Reddit commenter pointed out that for many retirees, money worry is a stand-in for bigger life questions: "Our worry about money is a proxy for existential worry about retirement life."
Retirement comes with major changes — the end of a career, shifting identity, concerns about health, aging, and purpose. With more free time and fewer structured goals, it's easy for those concerns to get funneled into obsessing over finances.
Why Checking Too Often Can Backfire
While staying informed about your investments is important, experts warn that checking too often can actually do more harm than good.
Frequent check-ins can cause investors to focus too much on short-term fluctuations, triggering emotional decisions that might hurt long-term results. "By checking too often, you may be tempted to make changes to your plan that can be a big mistake," Kendall Meade, a certified financial planner at SoFi (NASDAQ:SOFI), told GoBankingRates.
Trending: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation.
In fact, behavioral research suggests that investors who check their accounts too often may see lower long-term returns, especially if they panic during downturns or take on too much risk during bull markets.
How Often Should You Check Your Accounts?
There's no one-size-fits-all answer, but many financial experts agree that reviewing retirement accounts once a quarter — or even once a year — may be enough for most people.
James Allen, CPA and founder of Billpin.com, compared investing to gardening. "You wouldn't dig up your seeds every week to see if they've sprouted, would you? The same principle applies to your investments," he told GoBankingRates.
Quarterly or annual reviews can help ensure your portfolio is still aligned with your goals — without causing unnecessary stress.
See Also: Can you guess how many retire with a $5,000,000 nest egg? The percentage may shock you.
Tips for Breaking the Habit
If you're finding it hard to step away from your balance tracker, here are a few strategies to try:
- Outsource the worry: Some Redditors said hiring a financial advisor helped reduce their anxiety. One person joked that now their advisor "gets paid to worry" for them.
- Focus on what you can control: Rather than obsessing over stock performance, consider tracking expenses, revisiting your budget, or setting goals for home improvements or health care planning.
- Adjust your risk level: Moving some funds into more conservative investments or a money market account may provide peace of mind.
- Replace the habit: One commenter gave themselves a playful "penalty" for checking too often — buying a share of stock each time. Another said shifting their attention to activities like pickleball helped redirect their focus.
Let Your Plan Work for You
Retirement is a major life change, and it's normal to feel uncertain. But if you've built a sound financial plan, the best move may be to trust it — and give yourself permission to step back.
As one commenter summed it up: "I was surprised at how much better I was feeling after getting things squared away." Sometimes, reducing financial anxiety starts with making a few small changes — and then letting go.
Read Next: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here’s how you can earn passive income with just $10.
Image: Shutterstock
