If you’re an investor, you probably haven’t liked the headlines lately. The effects of the coronavirus outbreak have triggered a market plunge, and more volatility is almost certainly on the way. But instead of worrying about your financial statements, try to take some more positive approaches to this situation
For one thing, ask yourself this: When do you really need the money from your investment accounts, such as your IRA and 401(k)? These are retirement accounts, so you may not need to touch them for 20, 30 or 40 years – which gives you plenty of potentials to overcome even large market downturns.
Also, consider this: Your investment portfolio probably doesn’t make up your entire net worth. If you own a home, has its value dropped during the past month? Probably not. And the same may be true of your other non-investment assets. Ultimately, any decline in your overall net worth may well be significantly smaller than the percentage drop in your portfolio’s value.
Keeping things in perspective is a good move in all of life’s endeavors – including investing.
If you have any questions please contact me at 980-859-2549 or by e-mail at Brandon.Monette@edwardjones.com
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.