Your Guide to Improving in the Market Crash

Mar 31, 2020

Managing your portfolio isn’t about beating the market or gaining a certain return. It's about setting up your assets to take what the market gives us so we can achieve wants, needs, and goals. Now, amid a crash, that doesn’t seem too comforting, but with the right plan in place, you should be able to ride it out without too much of a hit. And even so, there are things you can do now, today, to help better your position. So, take a deep breath, find a quiet spot, and let’s shift our focus to gain some positive insights today.

Highlights from Episode #010:

1. Have a long-term strategy, have a long-term financial plan, adjust it when needed, but stick to it when it’s working for you.
2. Even if the marketing is good, don’t buy into the media hype.

Time-stamped Show Notes:

0:50 – It’s important to recognize what we’ve learned from previous crashes

2:06 – Why having a diversified portfolio is a good thing during a market crash

3:20 – Here’s how a Roth IRA could benefit you

4:18 – If possible max out your retirement contributions

4:49 – Joe discusses why you should take losses

6:10 – Now that the market has dropped make sure your portfolio is balanced

7:20 – How could refinancing your mortgage or consolidating debt help you?

8:27 – The most important thing you can do, not just during a market crash, is this