Staying Calm During The Downturn

It's jarring to see your portfolio drop 30% in a few days. No matter how experienced an investor you are, nobody likes to lose money. In times like this, there's a lot of noise out there. Ranging from good advice to outright scams.

No one can predict the future, but markets have been through the wringer. From famines to world wars, financial collapses to political scandals. Odds are we'll get through this too. Things will bounce back. Until then, here's a couple things you can do to weather the storm.

Social Media Distancing

A lot of folks are stuck at home, bored. It's easy to lose your day to endless scrolling. Constantly checking your feed isn't making anything better. It only adds to your anxiety and stress. Check in to stay responsibly informed and stop there. This will reduce your likelihood of getting emotional. Emotional trading is never good. Stick to the plan.

Stop Checking Your Account

The move to digital banking is great for investors. Financial services are more accessible and convenient than ever. 24/7 access to your account can have its downsides though, similar to 24/7 access to social media. Constantly checking your balance does you no good. The more you log in, the more likely you'll get caught up in the moment.

Enjoy The Sales

It doesn't feel like it, but these are actually some of the best times to be an investor. If you're fortunate enough to be able to continue contributions, this is the sale of a lifetime. It's easier said than done. It's tough to invest when things are so volatile, but if you can handle the short-term pain, more than likely you'll be glad in the long run.

"Be fearful when others are greedy and to be greedy only when others are fearful.” - Warren Buffet

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