Jan. 3, 2019
For most of us, those year-end retirement and brokerage account statements are going to be really depressing. So resolve not to panic and make any rash financial decisions when they arrive.
"The ugly fourth quarter in the stock market isn't fun for anyone, but volatility is normal at a time when interest rates are rising and there are concerns about a deepening trade dispute with China," said Greg McBride, chief financial analyst at Bankrate.com. "Do not jeopardize your long-term financial security by making knee-jerk reactions to short-term market volatility."
The economy is still in pretty good shape, McBride noted. Also, if you have money in the market, you're looking down the road many years. You shouldn't be fixated on what's happening right now.
"Ideally, the money you have in the stock market is money that you're not going to touch for quite some time, so you can afford to ride out the current volatility," McBride said.