The market tumbled a lot today. It was a big drop and a lot of folks believe they lost a lot of money. I'm hearing talk of selling, getting out, saving what's left of the savings before it too disappears. This is rarely the right approach.
Repeat after me: I have NOT lost money in the market until I sell. Paper losses are not real losses. They are unrealized losses. I have written about all this in the past. None of this is new. Please go back and read some of my old posts before you dump your stock in a panic.
Successful investing is about losing money with aplomb
Investing not trading
Learning to welcome the bear
Two very simple retirement portfolios (Note: these are examples and not suggestions.)
I am not a financial consultant. I am a retired photojournalist. I have opinions formed from a lifetime of on and off investing. Read my blog posts but keep your brain in gear. I am interested in the thoughts of other retirees and to start the conversation I am posting my side of what should be a multi-sided discussion.
Cheers!
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