Mar 25, 2020
#248:
We are living in a time of extreme uncertainty.
Many of us are questioning how we can best use the funds we have to survive it.
“Should I sell the funds I have invested in the market, or keep contributing?”
“Should I continue with my plans to invest in real estate?”
“Should I hoard all of my cash in case this gets worse?!”
My friend and former financial planner Joe Saul-Sehy joins me on today’s show to shed light on the answers and how to handle the stock market collapse.
Here are the key points we discuss in this episode:
- Don’t panic sell and convert paper losses into real losses. Stay the course.
- If this is your first bear market, welcome to being a real investor! This is how you grow in the long-term.
- Dollar-cost averaging is your best friend.
- How this upcoming recession might be different. The silver lining? The economy was doing well going into this. But the speed at which our markets recover depends on the speed and dedication with which we flatten the curve.
- The financial principles you can use that will guide you to security in these rough times.
P.S. – Unless you’ve been tested, default to the assumption that you’re infected and act accordingly.
For more information, visit https://affordanything.com/episode248