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Contributor

The last couple weeks in the market I been getting hit really hard, should I be selling these mutual funds before the DOW drops even lower?

4 REPLIES

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No no no no no. Even if it drops lower, it will go back up. It's only a loss if you sell.
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For those who are new to investing (post 2009) it's hard to imagine a world where the market doesn't go up. But those who were around then know that it does recover. The only ones who really lost are those who took losses (and the tax write off) others recovered
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I'm using this time to buy things at a low price.  I don't look at my investment account every day, heck I probably only look once or twice a year.   By the time I retire it will be much higher than it is now.  (As a back up plan I kept the box from the new refrigerator and I know a nice empty lot by the river). 

 

Buy low and sell high.  Not buy high and sell low.    Patience, patience. 

 

 

Then again I may be eating cat food in 20 years so you may not want to take my advice. 

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talk to someone that is in Financial Svcs. They can help you save what you already have. So that if the market goes back up your can earn and if it does keep going down you don't lose. I work with my advisor and they helped me out.