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Markets have since made back some of those deep losses, but did the worst days of turbulence have you wondering if it was time to give up on stocks? Maybe it seemed safer to just stuff your money into a shoebox under your bed. And here’s what Tersigni tells them: Stay the course with your investing, because over time “the odds are overwhelmingly in your favour.”
“For most of us, not much has changed just because the market has gone down recently, you’re saving for retirement, you have a 20-year horizon,” says Tersigni. “You still have time on your side, and you really don’t want to be making short-term decisions.” At those times, the best approach is to restrain yourself from peeking at your battered balances and keep your hands off your portfolio.Normally when the stock market takes a pounding, you shouldn’t focus on what you’re losing but instead on what you could be buying. A market plunge or “correction” makes stocks cheaper.
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