Investor Panic Prevention Plan

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.6 • 1.8K Ratings

🗓️ 26 February 2020

⏱️ 2 minutes

🔗️ Recording | iTunes | RSS

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Summary

Talk about a rough couple of days on Wall Street! Right about this time, you may be feeling a certain amount of queasiness, leading to low levels of anxiety and maybe even full-blown panic. Oh sure, you know that investing is risky, after all, that horrendous bear market of 2008-09 is not such a distant memory. But you may have forgotten just how awful the gut-wrenching losses can feel, especially as you confront those monthly and quarterly statements. Here’s the thing: those emotions are totally normal, but you need to guard against doing something that can knock you off course. Have a money question? Email me here. Please leave us a rating or review in Apple Podcasts. "Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Transcript

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0:00.0	Welcome to the Jill on Money Podcast. It's an emergency bonus episode. Okay, I know you're
0:10.6	freaked out. Two days of big selling in stocks what are you to do we've heard
0:15.6	from countless numbers of you here's what you need to think about this is your
0:20.7	investor panic prevention plan.
0:24.1	Remind yourself why you are investing.
0:26.8	Most of us are saving for a long term goal
0:29.7	like retirement, and that's probably decades in the future.
0:33.4	As a matter of fact, if you are putting money into our retirement account,
0:37.3	you should be psyched because you're buying at levels that are far below
0:41.6	where they were just days ago. Do you need cash from
0:46.1	this account? Do you need to make a house down payment? Do you need to purchase a
0:50.2	card? Do you have to pay a tuition bill.
0:52.6	Remember, if you need anything like that within the next 12 months,
0:56.4	that money should not be at risk at all.
0:59.4	If you blew it, get out, keep the money set aside.
1:03.0	And of course, don't forget,
1:05.0	now is a very good time to think about your risk tolerance.
1:09.0	Maybe you thought you could really gut it out.
1:12.0	You could handle the high highs and the low lows.
1:15.2	Maybe you're finding that you can't handle the low lows. How about that?
1:20.4	If you want to help yourself feel better about what's going on how about you
1:25.6	look at this account and figure out how to increase your rate of return risk-free
	...

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