The start of the New Year seems like a smart time to check a retirement portfolio, right? Wrong, according to a new study.

Too much attention could actually hurt a retirement portfolio, especially for those who watch market fluctuations too closely, according to new research from a business professor at Columbia.

Michaela Pagel, assistant professor of finance and economics at Columbia Graduate School of Business, points out that when investors check holdings frequently, and then try to rebalance the portfolio on their own, the new mix of investments can lead them to be financially worse off in the long run.

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