Worried about the volatile market? Think long term
RICHMOND, VA (WWBT) - If you’re worried about the stock market, experts want you to avoid agonizing over your retirement savings with every plunge and peak.
Constantly tweaking mutual funds and tracking short term performance may be overworking your money.
Michael Joyce with the Richmond financial firm Agili says practice patience - don’t jump the gun when the stock market drops and resist the urge to check how your investments are doing on a daily basis.
“One of the beauties of investing ongoing in a retirement plan like a 401k or a 403b or something like that is you keep putting money in so even when there’s drops your investing at lower prices,” she said.
Joyce says to tune out all the short-term noise keep your eye on the ball for the long-term goals.
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