Tips for Surviving a Shaky Stock Market
photo credit: James & Vilija
Most stock market investors in the United States are not really happy these days. But CNN Money has come up with a long list of 21 actions to take to make lemonade out of the lemons they’re getting from the stock market at the moment. Some of the highlights include these tips:
- Spend time you’d normally spend trading learning about how to trade better instead - read some great investing books and do some research online
- Get some tax write-offs by selling off some of your losses - but check the tax implications precisely
- Sell off your energy stocks while they’re at a high, and before they start to fall
- Ensure that your investing expenses are as low as possible - if you’re moving money around, make sure it’s to funds with the lowest possible fees, for example
- Swap some of your shares into more conservative stocks - they call it “tweaking your portfolio”
- Be extra aware of the danger of scams - scammers love to take advantage of people’s anxieties in economic conditions like those we’re experiencing now; the same goes for unscrupulous salesmen
- Move money out of government bond investment, because high demand has pushed down yields on these
- Make an effort to save more, knowing that it’s a short-term necessity
This entry was posted on Sunday, September 21st, 2008 at 5:31 am and is filed under Investing. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
