When the financial markets are in turmoil and account balances start to fall, there is a strong temptation to ask your financial advisor to “do something” to stem perceived losses. Yet it is often the case that staying the course—or doing nothing—proves to be the better path.
Sometimes the hardest thing to do is to do nothing.
This advice is well served to those who are properly invested for the long term, but it may not be correct if the portfolio is inappropriate or the investor’s time horizon does not allow markets to recover. Proper planning is crucial to staying the course when rough weather approaches or is already hammering the ship.
The best time to make course corrections is long before corrective action is forced upon you by the market.
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