For the past month or so, there have been a lot of more down days than up ones in the stock market. Does the current market volatility have you down? Try running a wealth management business that doesn’t charge anything when accounts lose value!
You may have read my 2015 Accountable Update when I referenced Vanguard founder, John Bogle, in a July 2014 AAII Journal article. Bogle made a case that an advisors job is to keep our clients from “doing anything” that may ultimately reduce their chances of being successful investors.
While letting our emotions get the best of us during times of volatility can lead to poor decision making and timing, it may be over simplistic to say we shouldn’t do “anything” in reaction to lower prices in the market. Whether the bulls are running or the bears are roaring, there is always something we CAN be doing to increase the chances that we will be successful investors. This week’s update will focus on three things you can do right now to take advantage of the recent market turmoil.