Ep. 40 When Markets Drop Focus On These 2 Things
When markets drop and your investment balances go down, it doesn’t make anybody feel “good.” It can be very stressful and worrisome to see your investment drop in value. What are some ways you can channel your feelings of fear and gloom into a more productive perspective when it comes to investing? Number 1, is to focus on your plan. Now, you might be saying, “I can’t go back in time to create a plan, I need help now!” And you’re correct, we can’t go back in time, but that doesn’t mean you can’t draw up a plan now for the next market dip. Because it is a matter of “when” not “if” the next market correction or recession takes place. You can prepare yourself now for the next market drop. The 2nd thing you can do to prevent yourself from making a mistake during negative stock market days is to put in place a “human barrier.” Have someone you can call on to come between you and a regrettable buy or sell decision. In other words, have someone you can talk to before you make a move in your investment accounts at an emotional time. Things will get better, sometimes it is hard to see that on your own. Have someone you can turn to to help you see the light when everything looks dark.
Contact Us: https://www.aquilawealth.com/contact-us
Eric Maldonado, CFP®, MBA
Owner, Aquila Wealth Advisors, LLC
(805)250-4552
info@aquilawealth.com
San Luis Obispo, CA
https://www.aquilawealth.com/
Disclosure: Aquila Wealth Advisors, LLC is a registered investment advisor in the state of CA, LA, and in other jurisdictions where exempt. All content on this podcast is for information purposes only. All information or ideas provided should be discussed in detail with an advisor, accountant, or legal counsel prior to implementation.
