PHOENIX (3TV/CBS 5) -- If you’re watching the stock market’s ups and downs every day, investment experts want you to stop, but they do recommend a 401(k) check-up to make sure your retirement account is on track.

James Royal, an analyst at Bankrate.com, says it is important to forget about the day to day swings and remain focused on your long-term savings strategy. It's also important to ensure your investments are balanced, and that you're not being too aggressive or not aggressive enough for your age.

"One of the first things you’ll see if your portfolio is too aggressive is you’ll see really massive swings in the value of it," Royal said. "If your portfolio goes up 10% in one month for example, you’ve probably got too many stocks."

There are also important signs that may indicate you're not being aggressive enough with your savings plan, especially if you're several years from retirement.  

"In general, if you don’t see that portfolio going up over a year or year and a half, you probably have too many bonds in the portfolio, and if you’re a young investor and you have 50, 60,70% of your money in bonds, that might feel good because you’re not seeing those highs and lows of the stock market, but you’re sacrificing your long-term financial security to feel good today," Royal said.

Want to know how your savings stacks up? Fidelity broke down the average 401(k) accounts by age:

-20-29 - $13,200

-30-39 – $46,200

-40-49 - $111,100

-50-59 - $188,000

-60-69 - $212,600

To put the averages in perspective, Fidelity recommends having 10 times your current salary saved by the time you're 67 years old.

 

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