Tuesday Money Tip: Weekend Portfolio Review

This post by Jill Schlesinger originally appeared on CBS' MoneyWatch.com.

Lately, it seems like most of investors' attention has been overseas-news out of Europe and China has been the main driver of market action. This week, we turn our attention to the US. While talking about the day ahead with CBS3, I highlighted housing and inflation data. Housing is likely to slow after the expiration of the home buyer tax credit and inflation should remain tame, providing the Fed with the freedom to keep interest rates at 0-0.25%.

At the end of the interview, Pat asked me a question that I've been fielding a lot lately: should investors change their allocations in light of market volatility? I know that recent fluctuations can be crazy-making, but if you are a long-term investor, volatile times are when you need to stick to your game plan.

One tip that I have found helps investors stay on course is to only review your portfolio on the weekends, when the market is closed. Doing so can prevent you from making an emotional decision. If you determine that you need to make, write down the order and execute it when the market opens-and don't be swayed by the ups or downs-just do it!

If you have questions about your financial life, whether it's an investment or a more general planning issue, go here and I'll help you out!

Jill Schlesinger is the Editor-at-Large for CBS MoneyWatch.com. Prior to the launch of MoneyWatch, she was the Chief Investment Officer for an independent investment advisory firm. In her infancy, she was an options trader on the Commodities Exchange of New York.