Our attention period is being attacked from lots of angles nowadays. With mobile phone beeping constantly, e-mail messages turning up on the screen all the time and a great dose of social networks notifications thrown into the mix, it’s tough to concentrate on the true meaning of much of the financial advice we’re given. Below are a couple of financial guidelines that seem unreasonable on the surface, however will actually assist you attain a comfy retirement.
GET USED TO LOSING CASH IN THE STOCK MARKET
If I simply blurted out this sentence as retirement advice without more description, you would think I was crazy. Those who are the most successful with making their cash work for them are also accustomed to losing some along the way. Simply put: the market is unstable — get used to it.
The value of your financial investments in the stock market will frequently be less than they were the previous day if you examine them every day. And let’s not forget the serious market decreases that we typically find out about after the market has closed. The picture over the long term improves substantially, due to the fact that the economy will continue to expand and equity investors will be ultimately rewarded for taking that risk. Those who are able to stomach the volatility will be rewarded the most. Can you stomach the short-term discomfort in order to enjoy the lasting rewards?
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