Amid stock market volatility, the default advice is often to do nothing. However, it can be helpful to turn your attention to your own timeline.
On the other hand, Bellfy said,"a stock market crash that starts the day after you retire can cause a permanent lifestyle impact if all your money is invested there."If you're a young investor, your rate of return typically matters less than your savings rate, said James Sweeney, a CFP and founder of Switchpoint Financial Planning in Lehi, Utah.
People in their 20s and 30s who are investing for retirement really are best off doing nothing as the market rages, said Alex Doll, a CFP and president of Anfield Wealth Management in Cleveland. When you put money into your 401 during a downturn, you're actually taking advantage of a low-cost environment.
"If not, consider raising cash from your portfolio now, rather than later after markets have fallen," he said.As the stock market swings up and down, older investors should avoid complacency and tweak their portfolio to make sure they're ready to exit the workforce, Bellfy said. That way if the bear market hits just before you retire, you won't need to dig into your portfolio at reduced prices.
Cramer gifts that online flower store with a blatant plug for Mother's Day. I guess anything goes when you have a criminal organization running the White House.
If you can’t stay calm amid stock market volatility, you shouldn’t be in the stock market.
No don’t stay calm. Panic at all ages. Get out now!!!
Young people should panic and old people should stay calm or vice versa?
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: CNBC - 🏆 12. / 72 Read more »