Unused to volatility, young investors may dread a downturn. Here’s how to prepare
“It’s one of these times where you just feel like anything could happen ... A lot of people have some anxiety about what’s to come in the short term or the near term,” said Robb Engen, a fee-only financial planner at Boomer and Echo in Lethbridge, AB.
If those people learned to stay in their investments at those points in time, another downturn isn’t going to affect their behaviour and they’ll stick with it. “They’ve built an immunity,” Dobson said. “Were you eagerly investing and adding to your portfolio at that point or were you panicking and wanting to pull money out?” he said.
Instead, Engen’s philosophy is that investors should find an investing solution that works for them regardless of current market conditions.
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