— and a guided meditation is helping me get through each new gut punch. Here's how and why I'm leaving my investments untouched during this tumultuous time.The news surrounding the coronavirus can be scary, and the stock market's nosedive is almost equally unnerving. As a young investor, I've been slowly building my portfolio dollar by dollar. Along the way, I've done my research to ensure that I'm investing in funds that will allow me to build a balanced portfolio.
But I knew that at some point, the market would drop out from under me. Every piece of investment advice I received was tempered with the harsh reality that I needed to be prepared for my portfolio to take some hits over time., and I've steeled myself to watch my portfolio sink to new lows. I prepared myself for this dark chapter of stock market history by building a diversified portfolio and realizing that this drop was inevitable before I ever invested my first dollar.
Even with such steep declines, the only logical thing to do is hang on for a long ride. The worst thing for my portfolio in the long-term would be to sell off my investments at rock bottom prices. TheIt is one thing to say that you will ignore the nosediving market, it is another to actually weather the storm and make it through without selling off your portfolio at a loss.
The second reason that I am able to tune out the panic and stick to the plan is that I am not relying on my investments for income at the moment. In addition to the income I earn as a writer, I have an emergency fund on hand. My family and I would be able to survive for at least a year on the savings that I've set aside.For me, the best way to stick to my plan is to simply avoid looking at my portfolio.
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Guided meditation is myth..
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