Over the past month, the TSX and S&P 500 have dropped approximately 10% and 12% respectively. So is now the time to PANIC and SELL everything? Should you try to be a hero and “time the market”?
The best advice during any market correction or downturn is to RELAX and do absolutely NOTHING!! If anything, now is the time to INVEST MORE by increasing your regular contributions!! We all know you’re supposed to buy low and sell high, right? So??
Now is your chance!!
Market corrections are a normal part of the economic cycle, just like the seasons of the year.
I realize it’s not fun seeing your investments decrease in value, however, it’s only a paper loss. Eventually, the markets will recover, and, hopefully, you will have added to your portfolio when the markets were “on sale”.
If you have any questions regarding this, give our office a call at 780-761-3343 or simply reply via e-mail. Until next month, have a terrific weekend.