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It is essential to recognize your money beliefs to take control of your finances and prevent a negative money mindset from sabotaging your financial future.
Studies have found that at 40, you should have about two times your pre-tax income invested for retirement.
To help safeguard your retirement portfolio cut back on spending during a bear market. Track your spending for a few months and look for opportunities to reduce expenses. Also consider postponing major expenses such as new vehicles, remodeling projects and major vacations until the market improves.
Investing in bonds comes with two primary types of risk. The first is credit risk which represents the loss of capital if the issuing company or entity defaults on paying interest due on the bond. The second is interest rate risk which occurs when interest rates increase.
When you pull out of the market, often due to fear, you miss the gains when the market rebounds.
International stock is selling at bargain prices, provides broader opportunities and reduces risk through greater diversification but it is also more volatile.