By Tim Parchewsky
Manager, PlanWright Financial, Wealth Consultant
Low oil prices and the COVID-19 Virus have caused investors a lot of stress over the last few weeks. Periods of market volatility are not new to long term investors. These ups and downs can wreak havoc on our portfolios and emotions. However, history has shown that in times of turmoil, sticking to a disciplined strategy can pay off.
Here are 3 strategies for dealing with volatile markets:
- Avoid letting your emotions guide your investing – Often, the best and worst time to invest are the very opposite of what our emotions tell us we should be doing.
- Stay invested – Trying to time the ups and downs of the market can leave money sitting on the sidelines when it should be invested. Missing out on a couple large increases can have a large long term impact to your portfolio.
- Invest with advice – Financial advisors help people increase their wealth. The longer people have advice, the more their investments grow.
Handling market volatility is very difficult to do on your own if you do not remember the strategies above. Every investor’s scenario is different and how market volatility impacts each investor is also different.
If you have questions regarding how market volatility is impacting your portfolio, please contact our office at 780-842-1370.
Mutual funds and financial planning services are offered through Credential Asset Management Inc. The information contained in this article was obtained from sources believed to be reliable; however, we cannot guarantee that it is accurate or complete. This article is provided as a general source of information and should not be considered personal investment advice or a solicitation to buy or sell any mutual funds.