Do not panic, selling in a knee-jerk reaction is one of the worst things you can do to your portfolio. In the future yesterday’s sell off will just be another blip on the chart. Remember if you sell you then have to decide what to buy and when to buy. Selling should be done because of a planned exit strategy. Money that you need to pay a bill due in the next year should never be in the market.
If you are interested in a quality and informative financial program, why not give the Conseula Mack Wealthtracker program a look see? It is on channel 15 WDSC a PBS station on Sunday evening from 7-7:30. There is also a very nice website with a free newsletter. The shows are up to date and not reruns. Remember you are investing for the long term not tomorrow.
With stocks up and down day to day you need to stop and breath and think. If you have a profit and need the money within the next year you might want to think about selling. If not look at your total portfolio and where you are planning to be in the next 5 to 10 years. Remember your big picture. If you are getting dividends and they are not in danger of being cut, you will get more shares for your money. The shares will eventually go up in value. Remember to think, keep control on your actions and behavior.
If you have an IRA and possibly a 401(k) you need to contact Fidelity and tell them that you want an update of your account to report all cost basis on reinvested dividends and capital gains. If you don’t the cost basis of your investments that you are seeing on your account will only show money from purchases and your dividend reinvestments will not be accounted for when figuring your cost basis per share.
The DeBary Library friends association is having a book sale on Sat. Sept 12 from 9:30 to 3.
When creating a financial plan one of the first considerations needs to be your personality type. Embrace your own aptitudes and abilities, everyone works differently. Ask for advice learn from those you respect but make it fit you. Example if 10pm is your best think time don’t try thinking at 8am, work with your abilities.
Many times our attitude is more important then the facts. If you believe that you can not save you never will. You must have a positive attitude about any thing you are trying to accomplish.
When you are are traveling, try using plastic organizers, traditionally used for vitamins or medication, to keep you earring and other small jewelry items neat and unbent!