Tuesday, September 13, 2022
Stock Market Tanking
The stock market keeps on tanking in spite of the occasional upward movement. Today’s drop is just under 1300 points which makes it one of the largest drops since the start of the pandemic in 2020.
While the rule is that you “ride out” the drops, it is getting harder to keep your chin up while your investments are going down the tube. There has to be a bottom to this, right? It can’t just keep going down. That is what some investment “experts” are saying however, and I guess you either keep fishing or at some point in time, cut bait.
I’m in a position that being retired, I don’t have an income deduction that I could add to my investments. Another expert opinion is that you should buy when the market drops because you are buying more shares at a lower price so that when the market inevitably goes back up, you will be able to reap the benefits. I’m fairly certain that many investors have lost quite a bit of money this year as the market has been in a decidedly bear position for most of the year. Just when you think it is going back up (the last two trading days), you come face to face with today’s outcome. So…the decision is yours to stay the course or perhaps move your investments to a money market account until things settle down. Decisions, decisions…