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Re: Stocks continue to tumble.
Quote:
Originally Posted by Alex
In my experience that fastest and easiest way to lose money in any investment is to react to short term market swings or volatility. Performance chasing, market timing, trying to pick individual stocks, making wild changes in asset allocations- these are all sure-fire ways to go broke quick. All serious money is invested with a LONG TERM time perspective. Personally, I have put together an asset allocation plan that lets me sleep at night and still achieve my financial goals. I have no plans of changing my asset allocation regardless of what happens in the short term because my plan is well thought out and matches my risk tolerance. If I do anything, I'll be adding to my stock holdings because I like to buy when things are on sale! My advice is to stay the course, it will pay off in the long run.
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I think this is the sensible approach. I'm 29 and I know that in a couple decades I will probably not even remember this period and it will most likely be nothing more than a blip once I reach retirement age.
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"Give me your tired, your poor,
Your huddled masses yearning to breathe free,
The wretched refuse of your teeming shore.
Send these, the homeless, tempest-tost to me,
I lift my lamp beside the golden door!"
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