You have good reason to be nervous. Anyone who had just seen their retirement account take a big haircut would lose sleep. The question is, what do you do next? Here’s the thing: if the recent drop rattled you in any way, you have a big problem. May’s “stock market crash” was barely a ripple in one of the calmest financial markets we’ve ever seen. Because most people overestimate their risk tolerance during a bull market, they often get whipsawed during a downturn.
Thankfully, there are answers. If you were ruffled by the recent correction, then you need to take immediate corrective actions. By following the next six steps, you can boost your chances of surviving whatever “Mr. Market” throws your way next. 1. Sell to the Sleeping Point, 2. Load Up on Bonds, 3. Focus on Dividends, 4. Have a Plan, 5. Turn Off the News and 6. Recruit an Advisor.
Source: Income Investors
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