Watch Brian Bowen discuss the First myth of “The Five Retirement Myths” Series on the Daytime Blue Ridge Wealth Wednesday WSLS Channel 10 show. Brian discusses the risk you maybe taking inside your investments. According to many reports, many investors sold at the wrong time when they saw their portfolio go down 20%-40% in 2008. Then they waited until 2009 to get back in which is really the opposite of what we should be doing as prudent long term investors. Many financial advisors in Virginia subscribe to the buy and hold approach. This approach has the investor hold onto their assets during a stock market correction. When a large stock market correction happens we sometimes can panic and sell our positions at the bottom of this correction. This can be very hazardous to our financial portfolio because we did the opposite of what we are supposed to.
Having tools and strategies to minimize your downside losses in the stock market is imperative. As investors, we are all very emotional. Especially when it comes to the money we will need to live on in retirement without any paycheck for 20 to 30 years. What is your retirement plan to help minimize the risk and get more reward on your investments?
Contact us at 540-266-3100 to have one of our financial advisors to complete a Morningstar report to find the potential risk you maybe taking in your portfolio. Many of our retirees are shocked at the risk they are currently taking for the reward they may receive.