Wall Street is hypnotic these days, isn’t it?
It’s up, then it’s down, then it’s WAY down, then it’s up, then it’s down, then it’s way, WAY down. Over the past five days, the Dow Jones Industrial Average has lost 163 points, 358 points, 531 points, 588 points, and 205 points.
Dizzying, isn’t it? It’s enough to drive someone insane.
So quit watching.
Seriously. If you’ve got cash in the stock market, quit paying attention. This isn’t the end of the world. In fact, if you keep pumping cash into your accounts, this chaos could end up playing to your advantage.
That’s what good financial advisors are telling their clients, anyway.
The worst thing you can do at a time like this, advisors say, is panic. This is nothing that time and a little patience won’t cure.
In fact, almost every piece of investment advice I’ve seen lately says the same thing: Stay the course. Don’t panic. Soldier on.
Here’s what I’m hearing. What do YOU think?
- Don’t panic about stocks. It’s not 2008 all over again, economist says
- 6 reasons not to panic about the market’s downturn: What Wall Street experts are saying
- 6 messages to reinforce for 401(k) participants during times of stock market volatility
- Five ways to deduct losses in financial markets
- Hunker down: 8 advisors explain how they’re handling stock market volatility
- In times of volatility, handle financial planning cients with extra care
- Stock sell-off continues but cool-headed advisers keep clients focused on the long term
- Calming clients in turbulent times: How one veteran financial advisor does it
- Stock market drop: What to tell your financial planning clients