In case you do not watch the market all day or watch the news 2-3 hours a day like I do, you might have some concerns about the market. And if you have watched any news at all, it sounds all gloom & doom but DO NOT PANIC about the market. Almost everyone reading this blog is young enough to ride this out.
I have pretty brochures and graphs that show lots of cool information about the market. But I am probably one of the only ones that think it is cool so I will not go through the trouble of posting them, but here are some facts & tidbits for you (disclaimer: no one can predict the future, all this info is based off the entire HISTORY of the market):
1. After a major decline in the market, the market has always rebounded better than the decline.
2. There has never been a 10 year period of time that someone has lost money in the stock market.
3. If you are saving for retirement, which I hope you are, do not stop.
4. Do not reallocate unless you are not being risky enough (unless you are going to retire in the next 5 years).
5. I would say that now would be a good time to invest (mutual funds though not individual stocks & bonds).
6. The "market" is for long term investors that can take the ups & downs of the market.
7. Always consult a professional for a personal recommendation, do NOT listen to just general plans on the news, they do not know your personal financial situation.
8. Never react to the market out of fear or emotion.
I guess that's all I have for now. Good luck.
1 comment:
THANK YOU! Can you go on CNN and tell everybody else!?? I have dear friends in the UK that are watching all this unfold and are freaking out...I tell them that...I haven't had to eat pinto beans and potatoes for a week unless I wanted too...it can't be that bad. I think the media just loves to cause panic and fear...don't we call that terrorism? Hmmm....
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