Markets have been falling for some time now, and it’s been a while since things went this direction this hard. Perhaps you are feeling the heat and emotional turmoil from your portfolio going into the red, or maybe you’re someone who hasn’t even started investing yet: what can we do when financial markets go down? I have some thoughts on what we can do for this downturn, and for the next one, as well as the one after next.
Build a buyer’s mindset
If you’re reading this site, chances are you are relatively similar in profile to me: you’re still working towards retirement and love a good deal or two. If so, building a buyer’s mindset shouldn’t be too difficult. As people with some time away from our retirement, our priority should be to accumulate assets such that we have enough to retire on. We are buyers, and falling prices are discounts....