To panic or not to panic?
October 7, 2008 | industry, personal finance | Comments (0)This advisor says don’t panic. The Payday Pundit thinks it should be an individual decision. From the story:
“I know people are scared watching the markets unravel. Don’t panic. That is the worst thing that you could do in a market like this. Think about it. How often do you look at your 401k statements in a good market? Don’t make quick decisions when those decisions are based on fear. Time horizons are different for different people. For some this market will present opportunities of a lifetime. For some this will mean working longer and putting off retirement. It is difficult to see what is happening and to open up those statements but don’t rush to sell everything. The key is to remain diversified. You may think that you are already diversified but you may not be if one part of your portfolio has sold off more aggressively than another.
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