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The current drop in the market is different than many previous market declines because it is driven by one event, the coronavirus. Although this creates tremendous uncertainty, this crisis will pass, and life will return to normal once the virus is under control.
Practicing gratitude also gives you more resilience when things go wrong. When you feel grateful it’s easier to keep things in perspective, so problems don’t seem so overwhelming.
Understanding the nature of the stock market, what you are invested in and how performance may vary can help calm anxiety during a decrease in the market.
It’s crucial to understand how well prepared you are for retirement. There are hundreds of retirement planning software packages available claiming answer this question for you.
If your employer offers a retirement plan, invest at least enough to get the employer match, if available. Most young adults can maximize their retirement funds by investing in the Roth option.
After an initial sense of freedom, many retirees experience anxiety, fear and boredom. If you don’t replace your career with something meaningful you may miss the sense of accomplishment and achievement that comes from completing projects, getting raises, promotions, bonuses or landing a new account.