When the market is tanking, what should you do?

  • 📰 NBCNews
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 86%

Deutschland Nachrichten Nachrichten

Deutschland Neuesten Nachrichten,Deutschland Schlagzeilen

When the market tanks, what should you do? If you’re inclined to check your 401(k) or other investment account balances, think again.

You may feel an irresistible urge to look at where you are financially. Don’t. Dan Ariely, chief behavioral economist at personal finance app Qapital and professor of behavioral economics at Duke University, said that is opposite of what you want to do.

Checking numbers, too, often can make it more difficult to accurately interpret trends, according to Ariely. If instead people look at their weight data in a less granular way, say how it trends over several weeks, they can more accurately see what is happening. Plus, they tend to get less anxious and take better care of their health, he said.In 2008, when the markets were going crazy, Ariely found himself checking his own accounts more frequently as everything changed every half hour.

“I wasn’t going to sell,” he said. “I wasn’t going to buy; I was just kind of looking obsessively. It was about noon when I realized I was out of control. I was looking too much.”

 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.

Trump is so bad you didn't even bother starting this with 'if'

Uhmmm.....blame Obama for getting a $60M book deal?🤭🤭🤭

“Fuck it all” is probably the most pragmatic response.

My 401(k) needs to change its' name from Empower Retirement to Disemboweled Retirement.

Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 10. in DE

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Stocks, oil tank on growing signs of global slowdownEquity markets tanked and oil prices fell sharply on Wednesday after a closely w... Brace yourselves! The inversion is an ill portent Only because some chart
Herkunft: Reuters - 🏆 2. / 97 Weiterlesen »

Stocks are sliding due to a 'smorgasbord of risks' across Argentina, Italy, Hong Kong, and SingaporeAn election upset tanked markets in Argentina, Italy's ruling coalition is in disarray, and Hong Kong protests are continuing. Actually stocks prices are labile for the usual reason: With any excuse to bid down prices significantly the guys with the money pull the trigger in unison knowing within a day or two of 3 down days they will take major profits.
Herkunft: BusinessInsider - 🏆 729. / 51 Weiterlesen »

You may be tempted to make this mistake as the market tanks. Here's what to do instead.Roller coaster moves in the market might tempt you to obsessively watch your investments or even adjust your holdings. Behavioral finance expert Dan Ariely says those are some of the worst things you can do. Just do what a co-worker did with his 401k. He maxed out his contributions into a mutual fund that was 100% stocks (Vanguard Primecap) since day one and never ever looked at it for almost 30 years. And the day he finally looked at it, he had about $1 million.
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »