WOW! What a roller coaster ride!
You hear so much in the news about how the stock market has gone upa
upa upa then downa down adown... You hear how people are losing lots
of money. With so much change going on in the market and so little
confidence in the economy, how do you keep from losing your sanity?
Here are a few tips the next time you hear how bad the market is:
#1. Turn the TV off!
Just because the market goes down for a time does not mean its time
to sell. In fact, that may signal a buying opportunity. The object
is to buy low and sell high. When we listen to bad news, we
sometimes forget that when prices fall, that means things are on
sale. Some people like when things go on sale. What about you?
#2. Take a deep breath!
When we hear bad news, our first reaction may be to get emotional.
In the investment game, the first person to get emotional typically
loses. Remember, you don't lose money until you actually sell at a
lower price. So if you want to be sure of a loss, sell.
However, before you sell your stock, make sure that you no longer
believe in the long-term viability of the company, and that there is
not a way in which you can reduce your cost without selling.
You may be able to reduce your overall cost of purchasing the stock
before you decide to jump out the ground floor window.
#3. Remember the Alamo
When the brave soles of the Alamo decided to fight until the last,
they had no idea that they would be remembered for their courage,
strength of will, and forward thinking. The Alamo was not the war,
but only a single battle. The market averages that are being spouted
are not all encompassing of the entire economy or the indication of
things to come.
Remember that historical information is not a prediction of future
results. Even though the Alamo was lost, what country does in belong
to now?
M aximize your dreams
O rganize to overcome obstacles
N etwork to net-worth
E njoy the moment
Y ield an increase
If you need further clarification on any techniques expressed in this
tip, please e-mail me at
coach@...I will be glad to hear from you.
End
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Resource:
Todd A. Williams is a money coach. He appears regularly on ABC
affiliate "Good morning Cleveland."
Visit his site to find out how you can get a free money tips
newsletter at
http://www.moneybytodd.com
