With all the market volatility and chaos around the Covid 19 outbreak, people are wondering how this volatility is going to affect them. This volatility brings with it a ton of emotion, but making emotional decisions with your future can have devastating effects.
What can you do now to be prepared for what comes next? Michael Evans shares 5 proactive steps you can take now to be ready for a probable recession.
Rather than trying to react to market mood swings caused by the coronavirus chaos, here are proactive steps you can take instead to be ready for a highly probable recession. Each is within your control, and any of them can add real value to your financial well-being.
The growth of the coronavirus and uncertainty, along with the downturn moves in the world stock market, adds to the uneasiness as we go through the coronavirus together. The antidote is taking a long-term perspective.
With our years of experience, we know a disciplined investor looks beyond the concerns of today to the long-term growth potential of markets. Investors have had concerns and challenges in the past, and they know there will be concerns and challenges in the future.
It is important to remember that volatility is a normal part of investing. For long-term investors, reacting emotionally to volatile markets may be more detrimental to portfolio performance than the drawdown itself.