What to do now: 5 investing mistakes to avoid
Having read this article by my friend Katrina Brown Hunt I decided to bring it up for your learning, hope it will save you some …… By Katrina Brown Hunt msnbc.com contributor What to do now? With the recession deepening, jobs disappearing and the Dow falling below the 7,000 level for the first time since 1997, many frightened investors are probably wondering if it is time to do something. But the challenge of “doing something” can be a disaster all its own: You might act rashly and do the wrong thing, or spend so much time being paralyzed with indecision that nothing gets done at all. To negotiate this dilemma, we asked financial planners across the country for their advice—and initially got some free psychotherapy. “Don’t panic” and “be patient” were common refrains, especially for people who have at least five years to go before retirement. “Historically some of the best periods for stock market returns have been during dismal economic times,” says Salt Lake City financial planner Pa...