Reading your portfolio in five minutes

Most people open the dashboard far more often than they need to, usually after a rough week in the markets. A calmer habit works better: one proper look a month, at a set time, with a pen and a notebook beside you.

Four things to look at, one after another

Start with the total value of the portfolio. Then look at what you paid in during the month, because contributions explain more of the change than prices usually do. Third, read the fee lines by name, and fourth, check the weight of each holding to see whether anything has drifted far from where you set it.

• Total value, and the change since last month
• Money in and money out
• The fees, listed by name
• The weight of each holding

That is the whole routine. If a number surprises you, write the question down and send it to us rather than acting on it that evening. Most surprises turn out to be a contribution you forgot or a fund charge that was listed all along.

The dashboard keeps the record, so you do not have to. Export it once a year for your own files and leave the rest of the month alone. Investments reward patience more reliably than they reward attention.