Time for Panic? Or Peaceful Action?

Monday.  China is calling it Black Monday.  What will happen this week in the stock market?

Everyone is watching and wondering.  There is plenty you can read on the market being overvalued.   And you can watch the real time numbers of a falling US stock market.  The conversations are fueled as much by the media as the facts.  You can stand by and watch.  Or you can stand by and panic.  Or you can take another route.

Review where you and your family are at financially today.  Look at your credit card statements. Take a deeper look at where your bank accounts stand.  Do you know what you are investing in for your monthly 401k or IRA investments?  Write it all down and keep it where you can see it.  This is your current reality.  The market will always change moment by moment.  

Cash for your current needs is what is most important.  If you get antsy and feel you must do something, then be sure your income and dividends are not reinvested.  Continue your retirement contributions into something safer.  No need to be adding more to the market when you feel insecure.  

This is a reminder that if you have been rebalancing and reviewing every year, there is no need to react.  If you are investing long-term, there is no reason to panic in the short-term.  Changes need to be made thoughtfully.

Then, turn off the television.  Stop watching on-line.  The market does not control your life.