I have no idea if the next 5,000 points for stocks will be up or down. But I do know your ability to stick with your plan will be tested in a 5,000 point drop.
Don’t forget how easy it is to lose money. It may have been a while since some of you have worked, but remember how hard it was to save your money.
Next, think about how you felt the last time the stock market took a big hit. Were you able to stick to your plan?
Remember, you can’t control the market. But, you can control how you deal with it.
In my experience investors discover they can’t tolerate losing money until after they lose it. And they complain about the market.
I know how you’ll feel if the market goes up by 5,000 points.
But how will you feel if the market falls by 5,000 points?
Be honest with yourself.
Imagine how great you will feel if you can handle big swings in the market and not question yourself?