How to invest in the current volatile marketPosted: Updated:
PHOENIX -- The market has been nothing if not volatile lately. Thursday was another down day on Wall Street with the Dow plummeting more than 400 points.
All of the wild swings up and down have left many people wondering what to do.
Financial guru and author Sharon Lechter shared three things you absolutely should not do and three things you should.
"You don't want to panic because fear and panic make you to stupid things," she explained. "We want to prevent people from going crazy and getting out of it [when they shouldn't]."
3 things not to do in a volatile market
1. Don't sell out of equities.
2. Don't abandon long-term goals.
3. Don't listen to popular press for advice.
"The negativity is what causes people to go crazy," Lechter said, explaining that balance in your portfolio is key.
"You don't want to rely on one asset," she said.
3 things to do in a volatile market
1. Diversify your assets and how you're making money.
2. Evaluate you cash balances.
3. Go out with friends, enjoy yourself and stop watching all the "gloom and doom."