While sometimes it may feel like the sky is falling and the best thing is to take cover, more often than not, having patience can be a better way go.
Whether a bear market or a recession, remember that both are temporary. And while they feel intense at the moment, it can be beneficial to take a long view of your goals rather than make sudden moves that have the potential to impact your long-term outlook.
People tend to make bad investing decisions when they get stressed. Don’t try to time the market or take big risks. Make your plan with your advisor and then stick to it. Also work with your advisor to keep a lookout for opportunity amid down times like a recession.
When down times come, it’s normal to get worried about your money, your work, and your family. But don’t let that worry take over and cause panic. People who let fear guide their financial choices often end up getting the most hurt during downturns.
You know what gets ratings? Headlines that scare people. And there is no shortage of those during volatile markets. Don’t listen to pundits who act like they know what’s going on, but really don’t. They aren’t necessarily all experts, and scary headlines will just make you stress. So, tune them out. If you need true insight, look to your advisor who can access information from their research partners.
The dreaded "R" word can leave many people in limbo as to what to do next. The truth is, no one can tell exactly what a recession will bring until it happens. All you can do is stay flexible and be prepared. It's important to know where your income streams are, where you can cut expenses, and what your contingency plans are amidst a recession. If you have an income plan that is prepared for times like these, you can potentially avoid the financial hit of liquidating assets.
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Investment advisory services are offered through Trek Financial, LLC., an SEC Registered Investment Adviser. Information presented is for educational purposes only. It should not be considered specific investment advice, does not take into consideration your specific situation, and does not intend to make an offer or solicitation for the sale or purchase of any securities or investment strategies. Investments involve risk and are not guaranteed. Be sure to consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Trek 371
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1- A History of Bear Markets. Investopedia.com. September 23, 2022 [10/4/22]
2- Recessions: 10 Facts You Must Know. Kiplinger.com. August 7, 2022 [9/20/22]
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