Ep 60: The Market and My Accounts Are Down. What Do I Do Now?

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If current conditions of the stock market being down and your retirement investment accounts falling in value have you concerned, worried or even scared about your future, you’re not alone. Today’s episode is just for you.

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Show Notes

Talk around the water cooler these days often turns to the stock market and how investments are down. Add in inflation and high gas prices, and people are dealing with a lot of stress.

Today’s show is all about market conditions, managing investments and the down stock market. How do you know if you’re doing OK? We’re here to help you understand.

Anytime you see your account values go down, it drives emotion in you because you worked so hard to save that money. But if you have a plan in place, you can sleep better at night and have a better perspective.

Instead of focusing on the short term, look at the long-term perspective. Historically, the market has always bounced back, but we don’t know exactly when that will happen.

A bear market, when the market drops 20%, happens every 3.6 years and the average length is 9.6 months, according to HartfordFunds.com.

If you’re still concerned, you need to get a strategy for your dollars. If you’re age 40, look at this as a buying opportunity and add money to your 401k to take advantage of the down market. If you’re retired, you need to stick with your current plan.

On today’s show, we’re also sharing some opportunities you need to be aware of in a down market. Listen to more of our conversation in the podcast or use the timestamps below to jump to a specific section.

Resources from today’s show: https://www.hartfordfunds.com/practice-management/client-conversations/bear-markets.html

Use the timestamps below to jump to a specific section. 

[3:48] – Stock market down

[4:58] – Emotions

[5:58] – Perspective

[10:00] – Bear market

[12:50] – Different advice

[17:30] Rainy day fund

[20:30] – Home equity line of credit

[21:53] Meet with financial planner

[26:11] – Opportunities in this market

Thanks for checking out this episode. We’ll talk to you again soon.

 

“If current conditions of the stock market being down and your retirement investment accounts falling in value have you concerned … you’re not alone.”

-Scott Sierens