Managing Emotions During Difficult TimesKarin Liu
Amid relentless controversy surrounding the world markets, it is necessary that investors remain focused on their structured plans and apply decisions based on logic.
Top Ten Tips for Investing During Challenging Times
- Don’t panic. Stay calm and make rational decisions based off logic, not fear.
- Stay informed. Gather information from multiple sources before making drastic decisions.
- Plan for the future. For rewarding times as well as times of hardship, make plans in advance to be prepared for whatever might come your way.
- Stay focused. Don’t let short-term challenges cloud your long-term perspective.
- Diversify. Design a portfolio that has a good mix of assets, geography and currencies.
- Reduce debt. Focus on reducing short-term debt for greater comfort during trivial times.
- Rethink expenses. Eliminate excess expenses during times of crisis to help ease concerns.
- Choose wisely. Selecting investment products from top-rated asset managers can help relieve stress levels.
- Stay in the game. Don’t let fears get the best of you. Focus on long-term goals and stay on course with your financial plan, especially during times of market crisis.
- Wait for the rebound. Dramatic dips in the market have consistently led to strong market recoveries.