Don’t Freak Out When Markets Tumble
Sometimes, the stock market experiences a downturn, causing some investors to panic and immediately sell their stocks. However, dumping your stocks is often a huge mistake.
“Don’t quit. Don’t stop,” said LaBrecque. “I’ve seen people stop their 401k in down markets. Awful idea. Down markets are sales. We buy steak on sale and clothes on sale. Make investments on sale.”
In other words, a down market can be a chance to buy at a discount. Also, remember that saving for retirement is a long-term process. Eventually, the stock market will recover — and so will your investments.
