No one likes losing. And no one’s immune from it. In the inevitable correction, that can be a rough reality.
But it’s not the end of the story. Correction panic doesn’t have to upset your portfolio.
You’re smarter than that.
Remember, you chose your investment strategies to support your needs and objectives. Market turmoil doesn’t change that.
During a market retreat, that can be hard to keep sight of—especially when you don’t know if you’re dealing with a short-term dip or a prolonged pullback.
So, what should you do when markets retreat?
Take a deep breath.
Don’t trip over yourself trying to make sudden moves. Ignore the media hysteria.
If you’re feeling nervous, turn off the TV. Stay off the internet.
Then, remind yourself that market corrections are normal and healthy.
Think about the solid, rational reasons you had for choosing your investments. And, remember, history shows us that corrections and recoveries come unannounced.2
If you can stay calm and can see past the temporary shakeups, you can potentially be in a much better position to enjoy the eventual recovery.
As an adviser, my job is to provide a calm, reassuring presence during times of turmoil and uncertainty. I’m here to help my clients avoid panicked reactions and stay focused on the big picture.
If you’re having a hard time staying cool when markets retreat, let’s talk. Call me at (816) 931-0375.
Now may be a good time to reassess your financial strategies and risk tolerance. If you need to make prudent changes or switch gears, I’ll let you know.