I want to talk to you about bad markets, and why it is critical to talk to your advisor during these types of markets.
We can guarantee that another bad market will come again, eventually, sometime. And when it does, you will want to have a plan. That is precisely why now is such a good time to be talking to your financial advisor.
Preventing clients from bailing out of a well-designed investment plan during a scary market is probably THE single most important job a financial advisor can carry out. When investors move out of the market when markets are down, they can really harm their long-term financial plans.
A recent study, released by Fidelity Investments, shows how damaging moving in and out of the market can be. If an investor invested $10,000 back on Jan 1st, 1980, just missing the 5 best days in the market would cost that investor 35% of their overall growth. Missing the best 50 days cost them 91% of the growth they would have received by staying in the market.