With the Dow losing 15% over the last 3 weeks, many are wondering what to do next. Should we wait it out, or should we get out? When’s enough enough? What if it comes back?
Are you frustrated with how your money has grown (or not grown) over the last 10 years?
If you see virtually every article on this topic, they will tell you to calm down and ride the wave. Besides, you don’t want to get off the roller coaster when it gets exciting, would you? These article contributors will make it sound like you are on anti-depressants and can’t think for yourself because you’re too stupid to keep your emotions in check.
In reality, I think you’re smarter than they say you are. Using fear is a great way to keep their advertisers (investment firms and banks) happy. Despite this, you don’t want to make a mistake either. After all, you don’t want to get out when everyone says to stay in, do you? Shouldn’t we follow the herd and play it safe?
My own personal motto with any kind of investment or business deal is “When in doubt, stay out.”
However, I legally can’t tell you to buy or sell. Besides, it would be bad to tell you what to do without knowing who you are. But, I would have you consider a few things to help you make up your own mind.
- Are you avoiding looking at what’s happening so you don’t stress out?
- Do you have doubts about the future of the economy and government decisions?
- Are you really passionate about the stock market, or do you just want to invest where you can create freedom and security?
- Do you know what you’re doing in the market?
- Does your financial advisor have any control of the markets, or are they just telling you to “trust them?“
- What would you do if the market kept going down?
- Why do Chris Miles and Dale Clarke laugh when the market tanks? =)
If you could answer these confidently (except for question #7), then you may be fine keeping your money there. If you had doubts about your investments, you may want to consider talking with a professional (hopefully someone who’s not paid to sell you products) to know what would be best for you. Ignoring what’s happening to your money is as bad as ignoring your spouse. Like in relationships, if you ignore them too long, you lose them. Don’t ignore and lose your money either!
If you want to learn ways to not only make money, but keep it, then I would recommend educating yourself further about the NEW RULES OF MONEY. If you like the gamble, that’s fine too. Go ahead and follow the herd, and let us know how it goes.
The good news is that Dale and I sleep well no matter what the news is saying. How have you been sleeping lately?
