by John Bearss
How can I handle stock market volatility in my financial plan?
When dealing with a volatile market, sometimes the most difficult challenge is to manage your emotions. If you decide you need to re-examine your game plan, it should be done with as much care as you put into developing that plan in the first place.
So when the market goes off the tracks, knowing why you originally made a specific investment can help you evaluate whether those reasons still hold, regardless of what the overall market is doing.
Remember, a well diversified portfolio is important. What I mean by diversification is spreading your investments over different risk types and asset types. So ask yourself these questions:
- What portion of your retirement funds should be used to create an income stream that you cannot outlive?
- What portion of your retirement funds can you not afford to lose when the market goes down?
- Should precious metals, real estate or mutual funds, stocks and bonds be a part of your portfolio to help you diversify your asset types? So remember, if your plan is based on sound financial principles, it will help you weather the emotional roller coaster you might be feeling.So make sure you have your financial affairs in order and a good way to start this process would be to contact me by e-mail at email@example.com or call me toll free at (888) 914-9909. I would be more than happy to review your financial situation with you to make sure your financial house is in order, and thank you for joining me this week for your retirement minute.Until next week!
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Disclaimer: Investing involves risk. Always do your own due diligence and consult a trusted financial professional before making any investing or financial decisions. John Bearss is a retirement specialist. He is a registered representative of and offers securities through SICOR Securities, Inc., Member FINRA, MSRB, SIPC, 6500 Poe Avenue, Suite 105, Dayton, OH 45414 | (937) 890.3101. Neither SICOR Securities, Inc., Lifetime Decisions Management nor their representatives provide legal or tax advice. Please consult your CPA or qualified tax advisor before making any decisions. Lifetime Decisions Management, Inc. and SICOR Securities, Inc. are not affiliated.