Keep Calm and Carry On

The stock market is volatile once again, so you’re probably asking yourself what to do. But just like any market plunge, the best course of action is usually inaction. Here are some tips for handling the latest ups and downs.

If you’re not invested

If you’ve been too worried about the market to invest, now is a good time to get started. The market is dipping, so you could get in now and ride the wave when the market rises again and into the long-term sunset. Look into an online brokerage for help with creating a balanced portfolio.

If you’re taking lots of risks

You might want to rebalance your portfolio if you’re highly invested in volatile assets, like cryptocurrency. As Money notes, when access to capital becomes difficult for investors, it’s usually the most speculative stocks that get hit the hardest.

If you’re close to retirement

It might be tempting to pull out of the market if you’re close to retirement. However, try to think of it this way: You’re not dying, you’re just retiring. Retirement can last decades. You don’t want to do anything rash and risk missing out on years of investing profits.

If you’re nervous

It’s understandable to be nervous right now. But try your best to remain calm and focus on the big picture. The market does this. It has happened many times before, and it will happen again. Think of the long-term gains you’ll likely reap by simply staying the course. The market will come back, and you want to be invested when it does.