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Financial Crisis and Your 401k
What a week! Lots of people worried over the headlines, and I don't blame them, but the folks who sat still did better than those who panicked. Look at the week's stock market:
Anyone who sold after the crisis had hit lost money this week. Those who sat still ended with a higher portfolio valuation for the week. I can't guarantee this will happen every time, but I am absolutely convinced of this: when you hear about a crisis in the news, holding on to your investments will do better, on average, than panic selling.
OK, that's easier said than done. Being calm doesn't come naturally to many people. Try deep breathing, prayer, or a little gin, whichever works best for you.
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