Hello, welcome to Arista Advice. Here's 7 things to do if the stock market has you nervous or scared.
Number one: Be calm. Inhale and exhale.
Number two: Run a retirement projection and understand the numbers behind your portfolio.
Number three: Check your risk tolerance. Your portfolio may have grown a little too much in stocks and too little in bonds.
Number four: Rebalance your portfolio if needed. Go in and rebalance the portfolio and get the right amount of stocks and bonds.
Number five: If asset classes are where they need to be take the opportunity to diversify. Sell your winners. Sell some gains, and buy some stocks or bonds that maybe at a lower price.
Number six: Continue to maintain your emergency account.
Number seven: Speak with a professional who's credentialed to make sure that your best interest and your thinking is appropriate.
Hope you're well. Have a great week. We look forward to talking to you soon.