Whether you anticipate your income will drop or not, it's a good idea to review your budget and make some adjustments to reduce expenses for the next three to six months. Make sure to capture any money saved in your emergency fund if you can. These changes aren't forever, so figure out what you can reasonably do in the short-term. If we've worked together for some time, you likely already have a well-stocked emergency fund.
I have to admit this market has literally taken my breath away several times over the last few weeks. I managed client money through the Great Recession when the market dropped 57%, but the last few weeks have been something else! If you're freaked out and want to stop the bleeding in your portfolio, I get it. I have those same feelings. Our brains are wired to want to take action and protect us from loss.
If you get out when the Dow is at 19,000, are you going to buy back in when it hits 15,000? What if it then goes to 12,000? Are you going to get back out to stem losses or buy more? And then maybe the market eventually recovers and gets back to 30,000.
Even if you invested every dollar right before the Great Recession hit and the market dropped 57%, your money still would have come close to doubling over that 10-year time period.
このニュースをすぐに読めるように要約しました。ニュースに興味がある場合は、ここで全文を読むことができます。 続きを読む:
AAdrodus
I'm also a financial planner based in South Africa. Glad I'll be able to learn more from you
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Coronavirus: Crime rates in NYC and LA drop as more people stay inside - Business InsiderThe number of serious felonies and arrests has reportedly gone down in NYC and LA as city streets empty out and more people stay inside.
ソース: BusinessInsider - 🏆 729. / 51 続きを読む »
Lamborghini recalls Aventador SVJ because owners can get stuck inside - Business InsiderAn improperly installed door mechanism means that some Lamborghini owners could get trapped inside their cars. What better thing to be stuck and quarantined in than a Lamborghini Aventador during these time. The wealthy are creative with ways to self quarantine. Why aren’t more in the media covering this!!?!?!!! Ugh I really don't want to deal with shipping for this thing, I'm going to keep mine and chance it /s
ソース: BusinessInsider - 🏆 729. / 51 続きを読む »
Read the letter a wealth manager sent to clients as the market tanked - Business InsiderAs difficult as it is, we must seemingly do nothing at this point, while in reality we are doing exactly what we should be doing. Stop posting nonsense like this. This market is only being held up by a ridiculous amount of money being pumped into it by the government right now. There is no economy. And there won’t be for months. Does this look like a good fundamental?
ソース: BusinessInsider - 🏆 729. / 51 続きを読む »
UBS executive says clients questioning usefulness of trading floors - Business InsiderVlad Khandros, the global head of market structure and liquidity strategy at UBS, said some clients would prefer trading floors to stay shut. You know a bigger pain point? The navigation on your site. I’d rather see the NYSE become the HKSE than try to fight your pop up filled “news”.
ソース: BusinessInsider - 🏆 729. / 51 続きを読む »
10 things in tech you need to know today - Business InsiderNine Tesla employees criticized the company's response to the novel coronavirus in interviews with Business Insider.
ソース: BusinessInsider - 🏆 729. / 51 続きを読む »