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Jennifer Baick
MBA, CFP®, CDFA Senior Director, Financial Planning Group
You may feel tempted to adjust your portfolio during a market correction, but before you do, review these four considerations.
During a market correction, many investors become sufficiently unsettled and feel compelled to do something about it. They have a strong temptation to take action on their portfolio, which, unfortunately, can often yield negative, unintended consequences.
This impulse should not be ignored. But if adjustments are going to be made, productive actions can be taken to mitigate the effects of a market correction or recession. These proactive financial-planning considerations include the following:
Financial planning during a market correction or recession can offer meaningful ways of improving your financial position, if they’re executed properly. Make an appointment with your advisor to discuss the strategies above. Most important, channel the eagerness to act in a direction where it can have the greatest impact.
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