Do you dread opening your portfolio when the market has been so volatile? You’re not alone.
Since the start of the month, investors have been in for a choppy ride after the Federal Reserve announced plans to tighten monetary policy to combat inflation. Higher interest rates typically put downward pressure on stocks, especially tech and growth companies that are more sensitive to rate changes.
If you’ve remained committed to your long-term investment strategy so far, every dip in your portfolio balance can feel like a knife to the heart. You might even be wondering if you should have taken your hard-earned money out of the market.
Don’t.
We know that’s easier said than done, but you’re right to stay invested.
It pays to stay invested
According to research by J.P. Morgan Asset Management, missing just 10 of the stock market’s best days can cut your overall return by more than 50%....