5 Ways to Recover From a Bear Market
Keeping up with the stock market is a roller coaster ride. One day it’s up, the next it plummets, and some days it sits still. If keeping up with the market is a stressor or just a concern, try these simple tips to stay informed without losing your mind and money.
Watching your investments devalue isn’t ideal. For many, investments are a livelihood, means of saving, an inheritance, and a legacy. But, constantly monitoring the market won’t help your investments. Keeping an excessively close eye may hurt it because you’re prone to hasty and harmful decisions because of our natural desire to prevent further losses. Instead, consider sitting on it for a few days, consult a financial professional, or research reliable sources.
Are you one of the many people that sell investments during a market dip? You could be benefiting well-informed buyers because they know there’s potential for a return to its high. Despite any instincts, don’t pull all your money. It might be tempting to push the emergency stop button but remember that market volatility is normal. When there’s a bear market, there will always be a bull around the corner. You don’t have to keep up with every headline every day. Many recommend that you do the opposite and only check periodically—especially if you have a long-term investment.
Diversify Your Portfolio
Diversity is usually a good thing, right? Varying opinions and ideas help broaden an angle. Why not implement that into your investments? This can potentially allow several paths for growth, and even if some of it performs poorly others may do great.
Talk to a Financial Professional
In the age of I’ll-Do-It-Myself, it’s easy to attempt to manage your portfolio. Of course, this doesn’t mean you’ll get the most gain or benefit. A financial professional, such as an advisor or consultant can use their experience and knowledge to potentially guide you to growth. A great financial professional can produce customized strategies that may help reach your goals. Everyone has different risk tolerances, goals, and life situations that are important to understand to make the best decision possible. Remember, there’s no one-answer-fits-all when it comes to investing.
Financial Strategy Session
If a doctor said you needed an expensive procedure, would you take it at face value, or consult another doctor for a second opinion? Think about other aspects of your life where you think you need a second opinion? Have you stopped to ask what to do with your portfolio in a market decline?
A second opinion never hurts. At RGA, we value honest feedback. We are currently offering Free Financial Strategy Sessions, which includes an assessment of your portfolio. Schedule a time to have chat with us by clicking on the link below to receive a second opinion, and see if we find something you may have missed. You can also call 1-800-467-8152 or email firstname.lastname@example.org to set up a time to talk. Just because the market is uncertain, doesn’t mean your finances have to be.
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