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{"text":[[{"start":null,"text":""}],[{"start":12.79,"text":"Many people enjoy investing, citing it as a rewarding hobby, but others find it a chore and a bore. "},{"start":18.744,"text":"And even if you’ve been a hobbyist investor for many years, life can throw curveballs in your way. "}],[{"start":24.729999999999997,"text":"Investment is a long game during which our level of enthusiasm for money management can wax and wane. "},{"start":30.358999999999995,"text":"My attention to pensions and Isa investments slipped when I had small kids and we moved house five times in three years. "},{"start":36.376999999999995,"text":"I’m sure it won’t be the last time my focus shifts. "}],[{"start":40.12,"text":"Over the festive period, I became part of the “sandwich generation”, supporting parents and children at the same time. "},{"start":46.486999999999995,"text":"In my case it was made more challenging because I live 200 miles away from mum and dad. "},{"start":51.217,"text":"I’m finding little time for financial admin, aside from pressing issues such as paying the tax bill by January 31. "}],[{"start":58.989999999999995,"text":"Other later life transitions, such as a career change or poor health, could also mean there’s no time to monitor performance spreadsheets, keeping up with company results or following financial markets. "}],[{"start":70.17999999999999,"text":"But if you don’t spend time on something to do it well, will it all fall apart? "},{"start":74.38399999999999,"text":"Not necessarily, with regards to investing. "},{"start":77.327,"text":"A series of academic studies have shown that asset allocation accounts for the lion’s share of investment performance, with stock selection and market timing only adding a little extra on top. "}],[{"start":87.55999999999999,"text":"Yes, there are rival papers such as “The Equal Importance of Asset Allocation and Active Management” from 2010. "},{"start":93.83899999999998,"text":"Even there, though, James Xiong, Roger Ibbotson and colleagues found about three-quarters of a typical fund’s variation in returns over time comes from general market movement, with the remaining portion split roughly evenly between the specific asset allocation and active management. "}],[{"start":108.75999999999999,"text":"But academic papers shouldn’t account for how we live or manage our lives. "},{"start":112.92699999999999,"text":"Nor should we try to be investment portfolio managers in our spare time, when we don’t have any time to spare. "}],[{"start":119.39999999999999,"text":"I’m a firm believer that keeping investments simple can bring better overall results with less effort, not least because it can bring non-financial benefits to your life that are impossible to value. "},{"start":129.20399999999998,"text":"This means more time with family or simply less to cross off on the “to-do” list. "}],[{"start":133.91,"text":"So resolve to streamline your investment portfolio. "},{"start":137.214,"text":"There are plenty of ways to do this. "}],[{"start":139.7,"text":"One is to stop being an “investment clutterbug”. "},{"start":142.56699999999998,"text":"Like the clothes hanging in your wardrobe that don’t fit, there may be some obvious investment things to ditch. "},{"start":147.99699999999999,"text":"Perhaps you have a small share portfolio that runs alongside your larger main pension. "},{"start":152.50199999999998,"text":"If you’ve been lovingly tending a portfolio of small company investments that’s only broken even over 10 years, it’s time to take them to the charity shop. "}],[{"start":161.08999999999997,"text":"You could also weed out the poor performers. "},{"start":163.61899999999997,"text":"Two years of a fund underperforming its peers or benchmark index rings alarm bells. "},{"start":168.39899999999997,"text":"Ditch any that have underperformed by 5 per cent or more over a three-year period. "}],[{"start":null,"text":"Bonus season - are you headed for a payout or a doughnut?
Charlie Bibby/FT
For the third year in a row, the Financial Times is asking readers to confidentially share their 2024 bonus expectations, and whether you intend to invest, save or spend the cash. Tell us via a short survey
"}],[{"start":362.27,"text":"You probably won’t do all these steps in one go. "},{"start":365.23699999999997,"text":"Just make a start with one. "},{"start":366.967,"text":"But expect a great sense of wellbeing, akin to that from tidying your shed, emptying the attic or organising a wardrobe. "}],[{"start":373.99,"text":"With less “money stuff” to think about, you’re also clearing your mind. "},{"start":377.757,"text":"I’m sure once my tax bill is paid, I’ll feel a whole lot better. "}],[{"start":381.92,"text":"Finally, stop checking your investments so often. "},{"start":385.374,"text":"That will free up time to do more of the things you enjoy, or deal with those curveballs. "}],[{"start":390.95,"text":"You’ll also lower your risk of a heart attack. "},{"start":393.604,"text":"Yes, there’s real evidence for this — a Chinese study found stock market volatility is associated with increased risk of hospital admission for cardiovascular disease. "}],[{"start":403.56,"text":"In his book, Thinking, Fast and Slow the economist Daniel Kahneman suggests glancing at your investment portfolio every three months. "},{"start":411.164,"text":"Anything more frequent may be hazardous to our cognitive function and mental health. "},{"start":415.244,"text":"Plus, the deliberate avoidance of exposure to short-term outcomes improves the quality of your decisions, meaning you’re more likely to end up richer. "}],[{"start":423.8,"text":"Moira O’Neill is a freelance money and investment writer. "},{"start":427.329,"text":"X: @MoiraONeill, Instagram @MoiraOnMoney, email: moira.o’neill@ft.com "}],[{"start":434.38,"text":""}]],"url":"https://creatives.ftacademy.cn/album/137763-1705070171.mp3"}Stop checking your investments so often. That will free up time to do more of the things you enjoy, or deal with those curveballs