The stock market is down about 8% from it’s all time high we set about three weeks ago. We haven’t seen the market THIS low since (checks notes…..) May of 2024. Less than 3 months ago.

If in May of this year (when the market was just off it’s all time record high) you were told “In 3 months, the stock market is going to be exactly where it is today”, would you panic? I hope not. It just makes for kind of a boring 3 months.

I’ll answer some FAQs about the market crash:

• Is the market going to keep dropping further? I have no idea. Neither does anyone else. If someone tells you they know what’s going to happen next, no matter how famous they may be, they are full of

.
• Should I sell my investments? No. This short term volatility is expected. It happens all the time. Stay the course.
• Should I buy more now? You should always be buying when you have extra cash to invest, so if you were doing it right you wouldn’t be sitting on a large pile of cash. If you do happen to have cash to invest, today is a slightly better time to invest than 3 weeks ago, but a worse time to invest than 6 months ago. Invest early and often. Stay the course.

You know what I’m doing in reaction to this recent market volatility? Absolutely nothing. And I’m sleeping like a baby. Buy and hold. Invest early and often. Stay the course.

As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.

-Jeremy

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By: Gabriela Gonzalez
Title: Don’t fall for the tabloids! What to do when the market crashes
Sourced From: www.personalfinanceclub.com/dont-fall-for-the-tabloids-what-to-do-when-the-market-crashes/
Published Date: Wed, 14 Aug 2024 03:25:23 +0000

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