What to Do When the Market Crashes?

A correction is a drop of 10 to 20%. A crash is 20% and beyond. We have seen crashes of 60% in recent history. How you behave during those times is everything. Stop looking at your portfolio. Turn off the news. The media will play no positive role in helping you make good decisions and neither will friends or family. Everyone will be negative. If you have spare cash, buy. Markets are down and you are getting the bargain of a century. If you do not have spare cash, do nothing. Go and do the thing you love. Go on holiday. I have seen couples in the middle of a market crash look at each other and say they need to tighten the belt. My answer is no. If the cash reserves are in place and you are still a long term investor, go and enjoy your life. These are temporary events and they always have been. General Advice Only. Robert Goudie is an Authorised Representative (No. 235974) of Consortium Private Wealth Pty (AFS Licence 495401).

Disclaimer || The information provided in this post is general in nature only and does not constitute personal financial advice. Robert Goudie is an Authorised Representative (No. 235974) of AFSL 495401.