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Buy High, Sell Low? | Series 7.2
Manage episode 322691922 series 2896200
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Set your expectations for how often downs do occur and hold it together when emotions run high.
- ...declines are normal and you should absolutely expect them to happen and mentality and emotionally prepare for that to occur. (02:55)
- Remember recoveries whether they take six months, 12 months, 18 months, that's also normal. (04:55)
- Finally, this is why we have talked about diversification before, so not owning just one or a few individual stocks, but rather having a professional advisor or at the very least using an Allocation Fund, as mentioned in the last episode, to spread your money out across many areas of the market to try and smooth out those rides. (05:26)
Quote for the episode: "If you think about your kids or your job or some other experience in your life, you can likely think of where it was maybe stressful at the time but now with the knowledge that you've learned, it's really not a big deal anymore." (02:54)
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